Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives $50.80 Consensus PT from Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $51.40.

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday. BTIG Research boosted their target price on shares of Rapport Therapeutics to $47.00 and gave the company a “buy” rating in a research report on Monday. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday.

Rapport Therapeutics Price Performance

NASDAQ RAPP opened at $28.67 on Tuesday. The stock’s 50-day moving average is $28.11 and its 200-day moving average is $26.90. Rapport Therapeutics has a one year low of $7.73 and a one year high of $42.27. The firm has a market cap of $1.37 billion, a P/E ratio of -10.02 and a beta of 1.51.

Rapport Therapeutics (NASDAQ:RAPP) last released 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). Equities analysts anticipate that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the transaction, the insider owned 387,075 shares of the company’s stock, valued at $11,232,916.50. This represents a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Abraham Ceesay sold 5,833 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $29.34, for a total transaction of $171,140.22. Following the sale, the chief executive officer directly owned 556,247 shares in the company, valued at approximately $16,320,286.98. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,669 shares of company stock worth $1,999,877 over the last three months. 13.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Affinity Asset Advisors LLC acquired a new stake in Rapport Therapeutics in the second quarter worth $2,270,000. Capital International Investors raised its holdings in shares of Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares during the period. Intech Investment Management LLC bought a new position in shares of Rapport Therapeutics during the 2nd quarter worth about $130,000. SG Americas Securities LLC boosted its position in shares of Rapport Therapeutics by 54.4% during the 4th quarter. SG Americas Securities LLC now owns 9,673 shares of the company’s stock worth $293,000 after purchasing an additional 3,408 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at about $331,000.

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.