Analysts Set Rapport Therapeutics, Inc. (NASDAQ:RAPP) Price Target at $57.86

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $57.8571.

Several equities analysts have commented on the stock. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Truist Financial assumed coverage on Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BTIG Research reissued a “buy” rating and set a $65.00 price objective on shares of Rapport Therapeutics in a report on Thursday.

Rapport Therapeutics Stock Up 6.2%

Shares of RAPP opened at $42.62 on Monday. The company’s fifty day moving average is $38.42 and its 200-day moving average is $33.12. Rapport Therapeutics has a 12 month low of $13.62 and a 12 month high of $43.76. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -16.39 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. As a group, research analysts predict that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 428,703 shares of company stock worth $17,215,252 over the last three months. 12.48% of the stock is owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RAPP. AlphaCentric Advisors LLC grew its holdings in Rapport Therapeutics by 6.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after buying an additional 408 shares during 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 during 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 during the last quarter. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the first quarter valued at approximately $30,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics in the fourth quarter valued at approximately $37,000.

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.