Rapport Therapeutics (NASDAQ:RAPP) Stock Rating Lowered by Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. BTIG Research reiterated a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday, August 5th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. William Blair began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Finally, Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Rapport Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $57.86.

Get Our Latest Stock Report on Rapport Therapeutics

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $45.49 on Friday. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -14.96 and a beta of 0.97. The company’s 50 day moving average price is $39.77 and its 200-day moving average price is $34.61. Rapport Therapeutics has a 52 week low of $13.86 and a 52 week high of $48.00.

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, sell-side analysts anticipate that Rapport Therapeutics will post -4.09 earnings per share for the current year.

Insider Transactions at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the sale, the insider directly owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. The trade was a 0.29% 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, CEO Abraham Ceesay sold 2,210 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the sale, the chief executive officer directly owned 537,607 shares of the company’s stock, valued at approximately $22,638,630.77. This represents a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Rapport Therapeutics in the 2nd quarter worth $112,500,000. Johnson & Johnson bought a new stake in Rapport Therapeutics during the second quarter valued at about $74,360,823,000. Vestal Point Capital LP bought a new stake in Rapport Therapeutics during the third quarter valued at about $28,215,000. Polar Capital Holdings Plc purchased a new stake in Rapport Therapeutics in the third quarter worth about $27,887,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rapport Therapeutics by 265.9% in the third 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.

Trending Headlines about Rapport Therapeutics

Here are the key news stories impacting Rapport Therapeutics this week:

Rapport Therapeutics Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Rapport Therapeutics (NASDAQ:RAPP)

Receive News & Ratings for Rapport Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapport Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.