Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated at Raymond James Financial

Raymond James Financial initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “strong-buy” rating and a $66.00 price target on the stock. Raymond James Financial’s target price suggests a potential upside of 93.15% from the stock’s current price.

RAPP has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Finally, Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.83.

Rapport Therapeutics Stock Down 0.1%

RAPP stock opened at $34.17 on Friday. The business has a 50 day moving average price of $29.28 and a two-hundred day moving average price of $28.21. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -11.95 and a beta of 1.09. Rapport Therapeutics has a twelve month low of $7.73 and a twelve month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results 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). On average, equities research analysts anticipate that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other news, CEO Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $26.12, for a total transaction of $152,357.96. Following the completion of the transaction, the chief executive officer directly owned 562,080 shares in the company, valued at approximately $14,681,529.60. The trade was a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,206 shares of company stock worth $1,151,091. 13.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Strs Ohio lifted its holdings in shares of 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. Russell Investments Group Ltd. lifted its holdings in shares of Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after buying an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 buying an additional 905 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics during the fourth quarter worth $37,000. Finally, Creative Planning lifted its holdings in shares of Rapport Therapeutics by 12.8% during the third quarter. Creative Planning now owns 11,959 shares of the company’s stock worth $355,000 after buying an additional 1,357 shares in the last quarter.

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.