Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up – Time to Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.21, but opened at $38.94. Rapport Therapeutics shares last traded at $38.3420, with a volume of 11,097 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Truist Financial assumed coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 price objective for the company. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

Rapport Therapeutics Trading Down 0.7%

The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.73 and a beta of 0.97. The company’s 50 day moving average is $36.40 and its 200-day moving average is $31.35.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) 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. Research analysts expect that Rapport Therapeutics, Inc. will post -3.08 EPS for the current year.

Insider Activity

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction dated 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 directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 895,158 shares of company stock valued at $35,908,941 over the last quarter. 12.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the company. KBC Group NV acquired a new stake in Rapport Therapeutics in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics during the fourth quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the third quarter worth approximately $43,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after purchasing an additional 905 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares during the period.

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.