Rapport Therapeutics (NASDAQ:RAPP) Raised to Hold at Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Rapport Therapeutics in a research note on Monday, February 2nd. They set an “overweight” rating and a $43.00 price target on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. BTIG Research reissued a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research note on Monday, December 8th. Finally, HC Wainwright boosted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.80.

Rapport Therapeutics Stock Down 1.6%

Shares of NASDAQ RAPP opened at $29.03 on Friday. The business has a 50-day moving average price of $28.30 and a 200 day moving average price of $25.99. The stock has a market cap of $1.38 billion, a PE ratio of -10.71 and a beta of 1.63. Rapport Therapeutics has a 52-week low of $6.43 and a 52-week high of $42.27.

Insiders Place Their Bets

In other news, CEO Abraham Ceesay sold 5,833 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total transaction of $171,140.22. Following the completion of the transaction, the chief executive officer owned 556,247 shares in the company, valued at approximately $16,320,286.98. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Bredt sold 8,500 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the sale, the insider owned 387,075 shares in the company, valued at approximately $11,232,916.50. The trade was a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 67,655 shares of company stock valued at $1,941,612. 13.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rapport Therapeutics in the 1st quarter valued at about $2,039,000. Rhumbline Advisers increased its position in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after buying an additional 4,109 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 17,496 shares during the period. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at approximately $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.