Rapport Therapeutics (NASDAQ:RAPP) Announces Earnings Results

Rapport Therapeutics (NASDAQ:RAPP) announced its quarterly earnings results on Wednesday. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.18) by ($0.01), FiscalAI reports.

Rapport Therapeutics Price Performance

Shares of RAPP traded up $3.40 during midday trading on Thursday, hitting $45.84. The stock had a trading volume of 223,544 shares, compared to its average volume of 349,388. The stock’s 50 day moving average is $39.52 and its 200 day moving average is $34.34. The firm has a market cap of $2.19 billion, a PE ratio of -17.59 and a beta of 0.97. Rapport Therapeutics has a 1 year low of $13.62 and a 1 year high of $45.60.

Insider Transactions at Rapport Therapeutics

In other 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 transaction of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares in the company, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was 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 in the company, valued at approximately $253,475,663.28. The trade was a 2.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 159,418 shares of company stock valued at $6,415,936. 12.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Rapport Therapeutics by 46.9% in the third quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company’s stock worth $48,308,000 after acquiring an additional 519,047 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Rapport Therapeutics by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after purchasing an additional 45,063 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of Rapport Therapeutics by 16.8% in the 4th quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock worth $33,677,000 after purchasing an additional 160,000 shares during the period. Polar Capital Holdings Plc boosted its stake in shares of Rapport Therapeutics by 7.0% during the fourth quarter. Polar Capital Holdings Plc now owns 1,004,728 shares of the company’s stock valued at $30,483,000 after purchasing an additional 65,776 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rapport Therapeutics by 6.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 952,371 shares of the company’s stock valued at $28,895,000 after buying an additional 60,113 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $65.00 price objective on shares of Rapport Therapeutics in a research report on Wednesday. Raymond James Financial initiated coverage on Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target for the company. Truist Financial started coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

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.