BTIG Research Reiterates “Buy” Rating for Rapport Therapeutics (NASDAQ:RAPP)

Rapport Therapeutics (NASDAQ:RAPP)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a report released on Wednesday,Benzinga reports. They presently have a $53.00 target price on the stock. BTIG Research’s price objective suggests a potential upside of 45.76% from the company’s previous close.

A number of other brokerages have also weighed in on RAPP. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Wells Fargo & Company boosted their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Raymond James Financial initiated coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective on the stock. Finally, Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research report 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapport Therapeutics has an average rating of “Buy” and a consensus target price of $54.83.

Rapport Therapeutics Stock Down 1.1%

Rapport Therapeutics stock opened at $36.36 on Wednesday. Rapport Therapeutics has a 12-month low of $7.73 and a 12-month high of $42.27. The business’s 50-day moving average price is $31.05 and its two-hundred day moving average price is $28.79. The stock has a market cap of $1.74 billion, a PE ratio of -12.71 and a beta of 1.09.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). As a group, analysts expect that Rapport Therapeutics will post -3.1 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Abraham Ceesay sold 5,083 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $29.36, for a total value of $149,236.88. Following the sale, the chief executive officer directly owned 20,729 shares of the company’s stock, valued at approximately $608,603.44. This represents a 19.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Cheryl Gault sold 2,014 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the sale, the chief operating officer directly owned 169,914 shares in the company, valued at approximately $4,915,612.02. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 487,885 shares of company stock worth $19,319,002. Corporate insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics in the 4th quarter valued at $37,000. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics during the 3rd quarter worth approximately $43,000. Strs Ohio boosted its holdings in shares of Rapport Therapeutics by 23.5% during the 3rd 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. boosted its holdings in shares of Rapport Therapeutics by 64.1% during the 4th 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 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.