Rapport Therapeutics (NASDAQ:RAPP) Lowered to “Sell” Rating by Wall Street Zen

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

Several other research firms have also weighed in on RAPP. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. HC Wainwright raised their target price on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. BTIG Research reissued a “buy” rating and set a $47.00 price target on shares of Rapport Therapeutics in a research note on Monday, December 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Rapport Therapeutics Trading Up 6.0%

Shares of NASDAQ:RAPP opened at $27.09 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -10.00 and a beta of 1.63. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27. The company has a 50-day moving average price of $28.40 and a 200 day moving average price of $24.62.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. As a group, equities analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Activity

In related news, insider David Bredt sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $26.84, for a total value of $228,140.00. Following the completion of the transaction, the insider owned 395,575 shares of the company’s stock, valued at $10,617,233. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Abraham Ceesay sold 5,083 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.11, for a total value of $132,717.13. Following the sale, the chief executive officer owned 25,812 shares of the company’s stock, valued at approximately $673,951.32. This represents a 16.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 67,655 shares of company stock worth $1,863,705. 13.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics during the third quarter valued at about $43,000. Strs Ohio lifted its position in shares of Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after buying an additional 400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 buying an additional 905 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Rapport Therapeutics in the 2nd quarter worth approximately $121,000.

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.