Rapport Therapeutics (NASDAQ:RAPP) Trading Up 5.4% – Should You Buy?

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shares shot up 5.4% during trading on Friday . The stock traded as high as $41.10 and last traded at $42.09. Approximately 30,549 shares traded hands during trading, a decline of 91% from the average session volume of 355,580 shares. The stock had previously closed at $39.93.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RAPP shares. BTIG Research reiterated a “buy” rating and issued a $65.00 price target on shares of Rapport Therapeutics in a research note on Thursday. Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. Raymond James Financial assumed coverage on Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price on the stock. Finally, Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Stock Up 6.2%

The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -16.39 and a beta of 0.94. The business’s 50 day simple moving average is $38.42 and its 200 day simple moving average is $33.12.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. Equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics 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 transaction, the insider directly owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 428,703 shares of company stock valued at $17,215,252 over the last ninety days. Company insiders own 12.48% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. AlphaCentric Advisors LLC increased its stake in Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after acquiring an additional 408 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after acquiring an additional 828 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $70,000 after acquiring an additional 905 shares during the period. KBC Group NV acquired a new stake in shares of Rapport Therapeutics during the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics during the 4th quarter worth $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.