Rapport Therapeutics (NASDAQ:RAPP) Stock Rating Upgraded by Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently commented on the company. Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. BTIG Research restated a “buy” rating and set a $53.00 target price on shares of Rapport Therapeutics in a research report on Friday. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Wells Fargo & Company raised their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and a consensus price target of $54.83.

Rapport Therapeutics Price Performance

Rapport Therapeutics stock opened at $38.04 on Friday. The company has a market capitalization of $1.82 billion, a PE ratio of -14.63 and a beta of 0.82. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The business has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $29.36.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. Equities analysts anticipate that Rapport Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Cheryl Gault sold 2,014 shares of Rapport Therapeutics stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total value of $58,265.02. Following the completion of the sale, the chief operating officer directly owned 169,914 shares of the company’s stock, valued at approximately $4,915,612.02. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $29.36, for a total value of $149,236.88. Following the completion of the sale, the chief executive officer directly owned 20,729 shares of the company’s stock, valued at $608,603.44. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 487,885 shares of company stock worth $19,319,002. 13.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Rapport Therapeutics in the 1st quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the 4th quarter valued at $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics during the third quarter worth $43,000. Strs Ohio grew its stake in shares of Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 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.