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

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $50.34 and last traded at $49.33, with a volume of 365422 shares trading hands. The stock had previously closed at $48.24.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RAPP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Raymond James Financial reissued a “strong-buy” rating and set a $75.00 price objective on shares of Rapport Therapeutics in a research note on Monday, August 17th. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. BTIG Research reaffirmed a “buy” rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Finally, HC Wainwright upped their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $62.86.

Rapport Therapeutics Stock Performance

The company has a market capitalization of $2.52 billion, a PE ratio of -17.27 and a beta of 0.97. The stock’s fifty day simple moving average is $42.90 and its 200-day simple moving average is $36.62.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly 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). On average, equities analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 18,921 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $49.57, for a total transaction of $937,913.97. Following the sale, the chief executive officer owned 467,187 shares in the company, valued at approximately $23,158,459.59. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 73,034 shares of company stock worth $3,484,157 in the last quarter. 12.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. TRV GP V LLC acquired a new position in Rapport Therapeutics in the second quarter valued at $261,709,477,000. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics in the 2nd quarter worth about $155,376,512,000. BlackRock Inc. acquired a new stake in Rapport Therapeutics in the 2nd quarter worth about $112,500,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics in the 2nd quarter worth about $74,360,823,000. Finally, California State Teachers Retirement System grew its holdings in Rapport Therapeutics by 3,951.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,354,233 shares of the company’s stock valued at $56,431,000 after buying an additional 1,320,807 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.