Rapport Therapeutics (NASDAQ:RAPP) Releases Earnings Results

Rapport Therapeutics (NASDAQ:RAPP) issued its earnings results on Thursday. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.25, FiscalAI reports. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million.

Rapport Therapeutics Price Performance

Shares of RAPP stock traded down $1.89 on Friday, hitting $38.04. The company’s stock had a trading volume of 373,430 shares, compared to its average volume of 381,446. Rapport Therapeutics has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The firm’s fifty day moving average price is $32.08 and its 200-day moving average price is $29.36. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.63 and a beta of 0.82.

Insiders Place Their Bets

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the sale, the insider owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of Rapport Therapeutics 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 sale, the insider directly owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 487,885 shares of company stock worth $19,319,002 in the last 90 days. 13.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Rapport Therapeutics by 46.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company’s stock valued at $48,308,000 after purchasing an additional 519,047 shares during the last quarter. Alliancebernstein L.P. lifted its stake 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 during the last quarter. Vestal Point Capital LP lifted its stake 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 valued at $33,677,000 after purchasing an additional 160,000 shares during the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Rapport Therapeutics by 7.0% in the 4th 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Rapport Therapeutics by 6.7% in the 4th 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 purchasing an additional 60,113 shares during the last quarter.

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of research reports. BTIG Research reissued a “buy” rating and set a $53.00 target price on shares of Rapport Therapeutics in a research note on Friday. Truist Financial raised shares of Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $54.83.

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.