Rapport Therapeutics (NASDAQ:RAPP) Reaches New 52-Week High – Still a Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.34 and last traded at $43.5650, with a volume of 251378 shares. The stock had previously closed at $40.39.

Analyst Ratings Changes

A number of brokerages have issued reports on RAPP. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. BTIG Research raised their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Wells Fargo & Company lifted their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. One investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Rapport Therapeutics Trading Up 5.8%

The stock’s fifty day moving average price is $37.25 and its 200 day moving average price is $32.10. The stock has a market cap of $2.04 billion, a P/E ratio of -16.43 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current year.

Insider Activity at Rapport Therapeutics

In other Rapport Therapeutics news, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider directly owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently bought and sold shares of the stock. KBC Group NV purchased a new stake in shares of Rapport Therapeutics during the first quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics during the 4th quarter valued at $37,000. Russell Investments Group Ltd. purchased a new stake in Rapport Therapeutics during the 3rd quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after acquiring an additional 4,582 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.