Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Recommendation of “Moderate Buy” by Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $61.5714.

RAPP has been the topic of a number of recent analyst reports. Truist Financial started coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. HC Wainwright lifted their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Leerink Partners started coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective for the company.

Insider Buying and Selling at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. The trade was a 0.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer directly owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 72,281 shares of company stock valued at $3,269,892. Corporate insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAPP. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics in the third quarter valued at $43,000. State of Wyoming bought a new position in Rapport Therapeutics in the second quarter worth $65,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the period.

Rapport Therapeutics Trading Down 0.8%

NASDAQ RAPP opened at $47.36 on Friday. The company has a fifty day simple moving average of $40.66 and a 200 day simple moving average of $35.20. The company has a market cap of $2.27 billion, a P/E ratio of -15.58 and a beta of 0.97. Rapport Therapeutics has a 1 year low of $13.86 and a 1 year high of $49.50.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Equities research analysts forecast that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

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.