Rapport Therapeutics (NASDAQ:RAPP) Receives Buy Rating from BTIG Research

BTIG Research reissued their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $53.00 target price on the stock.

A number of other research analysts have also recently commented on the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Wells Fargo & Company increased their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 11th. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price on the stock. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $54.83.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $36.78 on Wednesday. Rapport Therapeutics has a 52 week low of $7.73 and a 52 week high of $42.27. The firm’s 50-day simple moving average is $30.88 and its 200 day simple moving average is $28.74. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -12.86 and a beta of 1.09.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.07). Sell-side analysts anticipate that Rapport Therapeutics will post -3.1 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the sale, the insider owned 6,709,228 shares of the company’s stock, valued at $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction 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 completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 487,885 shares of company stock worth $19,319,002 over the last 90 days. Company insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rapport Therapeutics by 86.4% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Rapport Therapeutics during the 1st quarter valued at approximately $2,039,000. Rhumbline Advisers lifted its position in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after acquiring an additional 4,109 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Rapport Therapeutics by 5.5% in the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after acquiring an additional 17,496 shares during the period. Finally, Creative Planning purchased a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $121,000.

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.