Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 8.4% – Should You Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) rose 8.4% during mid-day trading on Friday . The stock traded as high as $37.58 and last traded at $38.1690. Approximately 12,922 shares were traded during trading, a decline of 96% from the average daily volume of 333,619 shares. The stock had previously closed at $35.21.

Wall Street Analysts Forecast Growth

RAPP has been the subject of several recent research reports. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.83.

Rapport Therapeutics Stock Up 10.8%

The firm has a market cap of $1.87 billion, a PE ratio of -15.06 and a beta of 0.97. The firm’s fifty day simple moving average is $36.26 and its two-hundred day simple moving average is $31.28.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $40.32, for a total value of $17,176,521.60. Following the transaction, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the transaction, the insider directly owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 895,158 shares of company stock worth $35,908,941 in the last three months. Insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently bought and sold shares of RAPP. Baker BROS. Advisors LP increased its position in Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares during the last quarter. Vestal Point Capital LP bought a new stake in Rapport Therapeutics in the third quarter worth $28,215,000. Polar Capital Holdings Plc bought a new stake in Rapport Therapeutics in the third quarter worth $27,887,000. Capital International Investors increased its position in Rapport Therapeutics by 30.7% in the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after purchasing an additional 648,378 shares during the last quarter.

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.