Rapport Therapeutics (NASDAQ:RAPP) Reaches New 1-Year High – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $44.28 and last traded at $42.9750, with a volume of 11402 shares changing hands. The stock had previously closed at $42.62.

Wall Street Analysts Forecast Growth

RAPP has been the topic of a number of research reports. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. 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 price target on the stock. BTIG Research reaffirmed a “buy” rating and issued a $65.00 price target on shares of Rapport Therapeutics in a report on Thursday, July 16th. Finally, Truist Financial began coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Stock Up 5.8%

The company has a market capitalization of $2.04 billion, a PE ratio of -16.37 and a beta of 0.94. The business’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $33.29.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate 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. On average, analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $40.12, for a total value of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares of the company’s stock, valued at approximately $258,281,847.96. This trade represents a 4.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 428,703 shares of company stock valued at $17,215,252. Company insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV purchased a new position in shares of Rapport Therapeutics during the first quarter valued at $30,000. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics in the 4th quarter worth about $37,000. Russell Investments Group Ltd. purchased a new stake in Rapport Therapeutics in the 3rd quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Rapport Therapeutics during the 3rd quarter valued at about $143,000.

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.