Rapport Therapeutics (NASDAQ:RAPP) Sets New 1-Year High – What’s Next?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $49.90 and last traded at $49.27, with a volume of 12442 shares changing hands. The stock had previously closed at $49.01.

Analyst Ratings Changes

RAPP has been the subject of several analyst reports. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. BTIG Research reiterated a “buy” rating and issued a $65.00 price target on shares of Rapport Therapeutics in a research report on Wednesday. HC Wainwright lifted their price target on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $75.00 target price on shares of Rapport Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $62.86.

Rapport Therapeutics Stock Up 0.0%

The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -16.14 and a beta of 0.97. The stock’s fifty day moving average is $41.39 and its two-hundred day moving average is $35.65.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 486,108 shares in the company, valued at $23,338,045.08. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 72,281 shares of company stock valued at $3,269,892. 12.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently bought and sold shares of the business. KBC Group NV acquired a new stake in Rapport Therapeutics during the first quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics during the 4th quarter worth $37,000. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics during the third quarter worth about $43,000. State of Wyoming acquired a new position in Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter.

Rapport Therapeutics Company Profile

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.