Rapport Therapeutics (NASDAQ:RAPP) Now Covered by Wells Fargo & Company

Stock analysts at Wells Fargo & Company started coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note issued on Monday, Marketbeat.com reports. The firm set an “overweight” rating and a $43.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 61.59% from the company’s previous close.

RAPP has been the topic of several other reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Citizens Jmp boosted their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Finally, HC Wainwright raised their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Rapport Therapeutics Trading Down 0.5%

Shares of NASDAQ:RAPP opened at $26.61 on Monday. The company has a market capitalization of $1.27 billion, a PE ratio of -9.82 and a beta of 1.64. The business’s fifty day simple moving average is $28.63 and its 200-day simple moving average is $24.27. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.06. Research analysts predict that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling

In related news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $30.02, for a total value of $255,170.00. Following the sale, the insider owned 392,642 shares in the company, valued at approximately $11,787,112.84. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 5,833 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total transaction of $172,890.12. Following the transaction, the chief executive officer owned 567,913 shares of the company’s stock, valued at $16,832,941.32. This trade represents a 1.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 67,655 shares of company stock valued at $1,863,705 in the last ninety days. Insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of large investors have recently modified their holdings of RAPP. Vanguard Group Inc. increased its stake in shares of Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after acquiring an additional 191,219 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Rapport Therapeutics by 45.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,766 shares of the company’s stock worth $327,000 after buying an additional 3,368 shares in the last quarter. Arizona State Retirement System acquired a new stake in Rapport Therapeutics during the fourth quarter valued at approximately $234,000. 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, SG Americas Securities LLC lifted its position in shares of Rapport Therapeutics by 54.4% in the fourth quarter. SG Americas Securities LLC now owns 9,673 shares of the company’s stock worth $293,000 after buying an additional 3,408 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.