Rapport Therapeutics (NASDAQ:RAPP) Shares Up 8% – What’s Next?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) was up 8% during mid-day trading on Tuesday . The company traded as high as $40.77 and last traded at $41.67. Approximately 48,700 shares traded hands during trading, a decline of 86% from the average daily volume of 344,246 shares. The stock had previously closed at $38.57.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. 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 price target for the company. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics Trading Up 5.7%

The company’s 50-day moving average is $37.66 and its 200 day moving average is $32.62. The firm has a market cap of $2.01 billion, a PE ratio of -16.15 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that Rapport Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider owned 246,426 shares in the company, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the transaction, the insider owned 6,280,525 shares in the company, valued at $251,535,026.25. This represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 894,798 shares of company stock valued at $35,896,377. 12.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Large investors have recently made changes to their positions in the business. Baker BROS. Advisors LP boosted its holdings in shares of Rapport Therapeutics by 181.2% during the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares during the period. Vestal Point Capital LP purchased a new position in Rapport Therapeutics during the third quarter valued at approximately $28,215,000. Polar Capital Holdings Plc acquired a new position in Rapport Therapeutics in the 3rd quarter valued at approximately $27,887,000. Capital International Investors increased its stake in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after buying an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after buying an additional 648,378 shares in the last quarter.

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.