Analysts Set Rapport Therapeutics, Inc. (NASDAQ:RAPP) Target Price at $51.40

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.40.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, BTIG Research upped their price objective on shares of Rapport Therapeutics to $47.00 and gave the stock a “buy” rating in a report on Monday, March 9th.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $32.38 on Friday. The company has a market capitalization of $1.55 billion, a P/E ratio of -11.32 and a beta of 1.09. Rapport Therapeutics has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The stock has a 50 day moving average price of $28.71 and a two-hundred day moving average price of $28.01.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Tuesday, March 10th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.07). As a group, equities analysts predict that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the firm’s 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 completion of the sale, the insider directly owned 387,075 shares in the company, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Cheryl Gault sold 2,014 shares of Rapport Therapeutics stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $28.93, for a total value of $58,265.02. Following the sale, the chief operating officer directly owned 169,914 shares in the company, valued at approximately $4,915,612.02. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,846 shares of company stock valued at $1,138,527 over the last three months. Corporate insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAPP. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics in the 4th quarter worth about $37,000. Russell Investments Group Ltd. bought a new position in Rapport Therapeutics during the 3rd quarter valued at approximately $43,000. Strs Ohio boosted its holdings in Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rapport Therapeutics by 64.1% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Rapport Therapeutics in the third quarter worth $143,000.

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.