Rapport Therapeutics (NASDAQ:RAPP) Receives Buy Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a report published on Friday,Benzinga reports. They currently have a $53.00 target price on the stock.

A number of other analysts have also issued reports on the company. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Truist Financial raised Rapport Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $54.83.

Rapport Therapeutics Trading Down 4.7%

RAPP opened at $38.04 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of -14.63 and a beta of 0.82. Rapport Therapeutics has a twelve month low of $7.73 and a twelve month high of $42.27. The firm’s 50-day moving average price is $32.08 and its 200 day moving average price is $29.36.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating 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. As a group, analysts predict that Rapport Therapeutics will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total value of $246,670.00. Following the sale, the insider directly owned 387,075 shares of the company’s stock, valued at approximately $11,232,916.50. This represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares in the company, valued at $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 487,885 shares of company stock worth $19,319,002. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock worth $7,025,000 after purchasing an additional 141,011 shares during the period. AlphaCentric Advisors LLC lifted its stake in shares of Rapport Therapeutics by 6.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after acquiring an additional 408 shares during the period. KBC Group NV acquired a new stake in shares of Rapport Therapeutics in the 1st quarter worth $30,000. Swiss National Bank lifted its stake in shares of Rapport Therapeutics by 3.5% in the 1st quarter. Swiss National Bank now owns 56,500 shares of the company’s stock worth $1,768,000 after acquiring an additional 1,900 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Rapport Therapeutics in the 1st quarter worth $215,000.

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.