Brokerages Set Rapport Therapeutics, Inc. (NASDAQ:RAPP) PT at $47.00

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $47.00.

RAPP has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Wells Fargo & Company started coverage on Rapport Therapeutics in a report on Monday, February 2nd. They set an “overweight” rating and a $43.00 price target for the company. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Finally, HC Wainwright lifted their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th.

Insider Activity

In other news, insider David Bredt sold 8,500 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $26.84, for a total transaction of $228,140.00. Following the transaction, the insider owned 395,575 shares in the company, valued at approximately $10,617,233. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Krishnaswamy Yeleswaram sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $30.05, for a total value of $85,342.00. Following the completion of the sale, the insider owned 296,991 shares of the company’s stock, valued at approximately $8,924,579.55. This represents a 0.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,239 shares of company stock worth $1,374,565 in the last quarter. 13.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RAPP. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $43,000. Strs Ohio lifted its holdings in 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 acquiring an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 acquiring an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Rapport Therapeutics in the third quarter worth $143,000.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $27.93 on Friday. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The company has a 50 day simple moving average of $28.35 and a two-hundred day simple moving average of $25.10. The company has a market capitalization of $1.33 billion, a PE ratio of -10.31 and a beta of 1.64.

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.