Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $57.8571.

A number of research analysts have weighed in on RAPP shares. BTIG Research reiterated a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research report on Thursday. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Truist Financial initiated coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd.

Insider Activity at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the transaction, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 428,703 shares of company stock valued at $17,215,252 in the last three months. 12.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after acquiring an additional 579,903 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock valued at $55,151,000 after purchasing an additional 191,219 shares in the last quarter. Baker BROS. Advisors LP grew its position in shares of Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after purchasing an additional 997,000 shares during the period. Alliancebernstein L.P. grew its position in shares of Rapport Therapeutics by 4.1% in the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after purchasing an additional 45,063 shares during the period. Finally, Vestal Point Capital LP grew its position in shares of Rapport Therapeutics by 16.8% in the fourth quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company’s stock valued at $33,677,000 after purchasing an additional 160,000 shares during the period.

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $42.62 on Monday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -16.39 and a beta of 0.94. The company has a 50 day moving average price of $38.42 and a 200-day moving average price of $33.14. Rapport Therapeutics has a 1-year low of $13.62 and a 1-year high of $43.76.

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

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.