Rapport Therapeutics (NASDAQ:RAPP) Earns Outperform Rating from Analysts at Leerink Partners

Analysts at Leerink Partners initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $52.00 price target on the stock. Leerink Partners’ price target indicates a potential upside of 33.74% from the company’s previous close.

Several other analysts have also commented on RAPP. Truist Financial initiated coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. Wells Fargo & Company boosted their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $38.88 on Wednesday. The firm’s fifty day moving average is $37.00 and its two-hundred day moving average is $31.80. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -14.95 and a beta of 0.97. Rapport Therapeutics has a one year low of $10.85 and a one year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, equities research analysts predict that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the sale, the insider directly owned 246,426 shares of the company’s stock, valued at $9,854,575.74. This represents a 7.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total value of $17,176,521.60. Following the completion of the sale, the insider directly owned 6,709,228 shares in the company, valued at $270,516,072.96. This represents a 5.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 895,158 shares of company stock valued at $35,908,941 in the last 90 days. Company insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Hedge funds and other 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 Rapport Therapeutics during the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics in the third quarter worth $43,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after acquiring an additional 4,582 shares during the period.

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.