Wells Fargo & Company Forecasts Strong Price Appreciation for Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics (NASDAQ:RAPP) had its price objective raised by equities researchers at Wells Fargo & Company from $43.00 to $46.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 60.45% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on RAPP. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. HC Wainwright boosted their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Monday. Finally, BTIG Research raised their price target on Rapport Therapeutics to $47.00 and gave the company a “buy” rating in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Rapport Therapeutics Stock Performance

RAPP stock opened at $28.67 on Wednesday. Rapport Therapeutics has a 1 year low of $7.73 and a 1 year high of $42.27. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.02 and a beta of 1.51. The stock’s fifty day moving average is $28.11 and its two-hundred day moving average is $26.90.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). As a group, analysts predict that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Abraham Ceesay sold 5,083 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $29.36, for a total value of $149,236.88. Following the completion of the sale, the chief executive officer owned 20,729 shares of the company’s stock, valued at $608,603.44. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Krishnaswamy Yeleswaram sold 2,840 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total value of $85,342.00. Following the completion of the transaction, the insider owned 296,991 shares in the company, valued at $8,924,579.55. This represents a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,669 shares of company stock worth $1,999,877 in the last quarter. Insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics during the 4th quarter worth about $37,000. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $43,000. Strs Ohio raised its stake in shares of Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Rapport Therapeutics in the 3rd quarter worth approximately $143,000.

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.