Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $47.00.

RAPP has been the topic of several recent research reports. HC Wainwright increased their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Thursday, January 8th. Wells Fargo & Company began coverage on shares of Rapport Therapeutics in a research note on Monday, February 2nd. They set an “overweight” rating and a $43.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Finally, Citizens Jmp raised their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th.

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $27.97 on Friday. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -10.32 and a beta of 1.63. The business has a 50 day simple moving average of $28.38 and a 200-day simple moving average of $24.89. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $42.27.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 5,083 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.11, for a total transaction of $132,717.13. Following the completion of the transaction, the chief executive officer owned 25,812 shares in the company, valued at $673,951.32. The trade was a 16.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Bredt sold 8,500 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $26.84, for a total value of $228,140.00. Following the completion of the transaction, the insider directly owned 395,575 shares in the company, valued at $10,617,233. This trade represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 67,655 shares of company stock valued at $1,863,705. Insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted its position in Rapport Therapeutics by 47.3% in the 4th quarter. MetLife Investment Management LLC now owns 15,996 shares of the company’s stock valued at $485,000 after buying an additional 5,133 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rapport Therapeutics by 236.6% during the fourth quarter. Renaissance Technologies LLC now owns 118,814 shares of the company’s stock valued at $3,605,000 after acquiring an additional 83,514 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rapport Therapeutics by 636.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,487 shares of the company’s stock valued at $2,533,000 after purchasing an additional 72,157 shares during the period. AlphaCentric Advisors LLC bought a new position in Rapport Therapeutics in the fourth quarter worth approximately $183,000. Finally, Alps Advisors Inc. grew its stake in Rapport Therapeutics by 128.9% in the fourth quarter. Alps Advisors Inc. now owns 39,139 shares of the company’s stock worth $1,187,000 after purchasing an additional 22,037 shares in the last quarter.

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for patients with cancer. The company leverages a proprietary discovery engine to identify novel tumor-associated antigens and develop tailored biologic and small-molecule candidates designed to modulate key oncogenic pathways. With a pipeline comprising multiple preclinical and early clinical assets, Rapport is committed to advancing precision medicine approaches and addressing unmet needs in oncology.

Rapport’s discovery engine combines high-throughput screening, molecular profiling and in vivo validation to accelerate the progression of lead candidates from the laboratory to clinical evaluation.