Rapport Therapeutics (NASDAQ:RAPP) Trading Up 8% – What’s Next?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price was up 8% during trading on Tuesday . The company traded as high as $40.77 and last traded at $41.67. 48,700 shares changed hands during trading, a decline of 86% from the average daily volume of 344,246 shares. The stock had previously closed at $38.57.

Analysts Set New Price Targets

Several brokerages recently weighed in on RAPP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. BTIG Research raised their price objective on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics Stock Performance

The company has a 50 day moving average of $37.42 and a 200 day moving average of $32.40. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -16.12 and a beta of 0.94.

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

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of Rapport Therapeutics stock in a transaction on 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 transaction, the insider directly owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the sale, the insider directly owned 246,426 shares of the company’s stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 895,158 shares of company stock worth $35,908,941 over the last three months. 12.48% of the stock is currently owned by insiders.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently modified their holdings of the business. KBC Group NV acquired a new stake in Rapport Therapeutics in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new position in Rapport Therapeutics during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics during the third quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Rapport Therapeutics in the third quarter valued at about $143,000.

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.