Rapport Therapeutics (NASDAQ:RAPP) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research analysts also recently commented on RAPP. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Wells Fargo & Company raised their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Finally, TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rapport Therapeutics presently has an average rating of “Buy” and an average target price of $53.83.

Rapport Therapeutics Price Performance

NASDAQ RAPP opened at $34.17 on Thursday. The firm’s fifty day moving average price is $29.28 and its 200 day moving average price is $28.21. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -11.95 and a beta of 1.09. Rapport Therapeutics has a 12 month low of $7.73 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its 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). As a group, sell-side analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Activity

In other news, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction dated Tuesday, February 17th. The shares were 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 of the company’s stock, valued at $11,232,916.50. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.36, for a total transaction of $149,236.88. Following the completion of the sale, the chief executive officer directly owned 20,729 shares in the company, valued at approximately $608,603.44. The trade was a 19.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,206 shares of company stock valued at $1,151,091 over the last quarter. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after purchasing an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Rapport Therapeutics in the first quarter valued at about $2,039,000. Rhumbline Advisers lifted its stake in shares of Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC lifted its stake 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 purchasing 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 about $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.