Rapport Therapeutics (NASDAQ:RAPP) Price Target Raised to $65.00

Rapport Therapeutics (NASDAQ:RAPP) had its price target increased by investment analysts at BTIG Research from $53.00 to $65.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 81.97% from the stock’s previous close.

A number of other research firms also recently issued reports on RAPP. Wells Fargo & Company increased their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price for the company. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. 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 equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

Rapport Therapeutics Stock Up 3.9%

RAPP stock opened at $35.72 on Thursday. Rapport Therapeutics has a 12-month low of $7.73 and a 12-month high of $42.27. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -13.74 and a beta of 0.82. The company has a 50 day moving average of $33.42 and a two-hundred day moving average of $30.01.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (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. On average, research analysts anticipate that Rapport Therapeutics will post -3.18 EPS for the current year.

Insider Activity at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s 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. This trade represents a 5.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Cheryl Gault sold 2,014 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 878,600 shares of company stock worth $35,223,398. 13.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RAPP. Baker BROS. Advisors LP grew its stake in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after buying an additional 997,000 shares during the last quarter. Vestal Point Capital LP acquired a new position in Rapport Therapeutics in the 3rd quarter valued at $28,215,000. Polar Capital Holdings Plc acquired a new position in Rapport Therapeutics in the 3rd quarter valued at $27,887,000. Capital International Investors grew its stake in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after buying an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after buying an additional 648,378 shares during the last quarter.

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.