Rapport Therapeutics (NASDAQ:RAPP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Rapport Therapeutics (NASDAQ:RAPP) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other equities analysts have also issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. HC Wainwright upped their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.40.

Rapport Therapeutics Stock Performance

NASDAQ RAPP opened at $27.62 on Friday. The company has a market cap of $1.32 billion, a PE ratio of -9.66 and a beta of 1.50. The firm’s 50 day moving average price is $28.11 and its 200-day moving average price is $27.23. Rapport Therapeutics has a 52-week low of $7.73 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.07). On average, analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other news, insider Krishnaswamy Yeleswaram sold 2,840 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total value of $85,342.00. Following the completion of the sale, the insider directly owned 296,991 shares of the company’s stock, valued at approximately $8,924,579.55. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Cheryl Gault sold 2,014 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total value of $58,265.02. Following the transaction, the chief operating officer owned 169,914 shares in the company, valued at $4,915,612.02. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,169 shares of company stock valued at $1,744,707 over the last ninety days. 13.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics during the 3rd quarter worth about $43,000. Strs Ohio boosted its position in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $70,000 after purchasing an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Rapport Therapeutics in the third quarter valued at approximately $143,000.

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.