Rapport Therapeutics’ (RAPP) Buy Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $65.00 price target on the stock.

A number of other analysts have also commented on RAPP. Truist Financial started coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 target price for the company. Raymond James Financial started coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Finally, William Blair assumed coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics Trading Down 1.9%

Shares of NASDAQ RAPP opened at $45.49 on Wednesday. Rapport Therapeutics has a 1 year low of $13.86 and a 1 year high of $48.00. The firm’s 50-day moving average is $39.77 and its 200-day moving average is $34.55. The firm has a market capitalization of $2.18 billion, a PE ratio of -14.96 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). As a group, equities research analysts anticipate that Rapport Therapeutics will post -3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 2,210 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $42.11, for a total value of $93,063.10. Following the completion of the sale, the chief executive officer owned 537,607 shares in the company, valued at $22,638,630.77. This represents a 0.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the sale, the insider directly owned 6,280,525 shares in the company, valued at $251,535,026.25. The trade was a 0.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 154,400 shares of company stock worth $6,213,660. Company insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently modified their holdings of the business. KBC Group NV bought a new position in shares of Rapport Therapeutics during the 1st quarter valued at about $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics during the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics during the 3rd quarter worth approximately $43,000. State of Wyoming acquired a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 buying an additional 905 shares during the period.

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.