Rapport Therapeutics (NASDAQ:RAPP) Sets New 12-Month High – Here’s Why

Rapport Therapeutics, Inc. (NASDAQ:RAPP) reached a new 52-week high on Wednesday . The company traded as high as $49.90 and last traded at $49.27, with a volume of 12442 shares traded. The stock had previously closed at $49.01.

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 target price on shares of Rapport Therapeutics in a report on Monday. Finally, Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $62.86.

Rapport Therapeutics Stock Performance

The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -15.74 and a beta of 0.97. The business has a 50-day moving average of $41.92 and a 200-day moving average of $35.96.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Equities analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer owned 486,108 shares of the company’s stock, valued at approximately $23,338,045.08. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value 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 approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,685 shares of company stock valued at $3,290,052 in the last ninety days. 12.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

A number of large investors have recently modified their holdings of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics in the 1st quarter valued at about $2,039,000. Rhumbline Advisers boosted its stake in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after buying an additional 4,109 shares during the period. Geode Capital Management LLC boosted its stake in shares of Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after buying an additional 17,496 shares during the period. Finally, Creative Planning acquired a new position in shares of Rapport Therapeutics during the second quarter worth about $121,000.

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.