Rapport Therapeutics (NASDAQ:RAPP) Raised to “Strong-Buy” at Truist Financial

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

RAPP has been the topic of several other research reports. HC Wainwright upped their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Finally, TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $29.00 on Wednesday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -10.14 and a beta of 1.51. The company has a 50-day simple moving average of $28.09 and a 200 day simple moving average of $27.73. Rapport Therapeutics has a 52 week low of $7.73 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). Sell-side analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, COO Cheryl Gault sold 2,014 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the transaction, the chief operating officer owned 169,914 shares in the company, valued at $4,915,612.02. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer owned 20,729 shares in the company, valued at approximately $608,603.44. This trade represents a 19.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,253 shares of company stock valued at $1,421,208 in the last three months. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several large investors have recently modified their holdings of RAPP. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics in the fourth quarter worth $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the third quarter worth about $43,000. Strs Ohio grew its stake in Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $70,000 after buying an additional 905 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 valued at $99,000 after buying an additional 4,582 shares in the last quarter.

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.