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

BTIG Research reissued their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note issued to investors on Thursday morning,Benzinga reports. BTIG Research currently has a $65.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price for the company. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Leerink Partners started coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Stock Up 6.2%

Shares of NASDAQ:RAPP opened at $42.62 on Thursday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -16.39 and a beta of 0.94. Rapport Therapeutics has a 12-month low of $13.62 and a 12-month high of $43.76. The business’s 50 day moving average is $38.42 and its 200 day moving average is $33.12.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, equities research analysts expect that Rapport Therapeutics will post -3.25 earnings per share for the current year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $40.12, for a total value of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares in the company, valued at $258,281,847.96. This represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 428,703 shares of company stock valued at $17,215,252. 12.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors have recently added to or reduced their stakes in RAPP. Bank of America Corp DE increased its holdings in Rapport Therapeutics by 220.7% during the first quarter. Bank of America Corp DE now owns 110,826 shares of the company’s stock worth $3,468,000 after buying an additional 76,273 shares during the last quarter. California State Teachers Retirement System boosted its stake in Rapport Therapeutics by 25.2% in the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company’s stock valued at $1,046,000 after acquiring an additional 6,736 shares during the last quarter. Sei Investments Co. boosted its stake in Rapport Therapeutics by 68.7% in the first quarter. Sei Investments Co. now owns 30,819 shares of the company’s stock valued at $964,000 after acquiring an additional 12,551 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Rapport Therapeutics during the 1st quarter valued at approximately $349,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after acquiring an additional 141,011 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.