Rapport Therapeutics (NASDAQ:RAPP) Announces Earnings Results, Misses Estimates By $0.07 EPS

Rapport Therapeutics (NASDAQ:RAPP) announced its quarterly earnings results on Wednesday. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07), FiscalAI reports.

Rapport Therapeutics Stock Performance

Shares of RAPP stock traded down $0.97 on Friday, hitting $45.38. The company’s stock had a trading volume of 167,619 shares, compared to its average volume of 349,415. Rapport Therapeutics has a fifty-two week low of $13.86 and a fifty-two week high of $48.00. The company has a market capitalization of $2.17 billion, a PE ratio of -14.92 and a beta of 0.97. The stock’s 50 day moving average is $39.65 and its 200-day moving average is $34.48.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RAPP. Raymond James Financial began coverage on Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company. Truist Financial initiated coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction on Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the completion of the transaction, the chief executive officer directly owned 537,607 shares of the company’s stock, valued at $22,638,630.77. The trade was a 0.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the completion of the transaction, the insider owned 6,299,097 shares of the company’s stock, valued at $253,475,663.28. The trade was a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 154,400 shares of company stock valued at $6,213,660 over the last ninety days. Insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several large investors have recently bought and sold shares of RAPP. Stifel Financial Corp bought a new position in Rapport Therapeutics in the 4th quarter valued at approximately $207,000. AlphaCentric Advisors LLC acquired a new position in shares of Rapport Therapeutics during the fourth quarter worth $183,000. Los Angeles Capital Management LLC bought a new position in shares of Rapport Therapeutics in the 4th quarter valued at $203,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rapport Therapeutics during the 3rd quarter valued at $143,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Rapport Therapeutics during the 3rd quarter valued at $178,000.

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.