Rapport Therapeutics (NASDAQ:RAPP) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a report released on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $43.00 price objective on the stock.

RAPP has been the subject of several other research reports. HC Wainwright lifted their price objective on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Citizens Jmp lifted their target price on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. BTIG Research reiterated a “buy” rating and issued a $47.00 price objective on shares of Rapport Therapeutics in a research note on Monday, December 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Rapport Therapeutics Stock Up 4.3%

Shares of RAPP stock opened at $27.75 on Monday. The firm has a market cap of $1.32 billion, a P/E ratio of -10.24 and a beta of 1.63. The company has a 50 day moving average of $28.62 and a 200-day moving average of $24.36. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.06. As a group, equities analysts expect that Rapport Therapeutics will post -3.65 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Abraham Ceesay sold 5,833 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total value of $172,890.12. Following the transaction, the chief executive officer owned 567,913 shares of the company’s stock, valued at approximately $16,832,941.32. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction on Monday, December 15th. The shares were sold at an average price of $30.02, for a total value of $255,170.00. Following the sale, the insider directly owned 392,642 shares of the company’s stock, valued at $11,787,112.84. This represents a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,655 shares of company stock valued at $1,863,705 over the last 90 days. Company insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics during the 3rd quarter valued at about $43,000. Strs Ohio grew its position in Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after acquiring an additional 400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after acquiring an additional 4,582 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $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.