Rapport Therapeutics’ (RAPP) Buy Rating Reaffirmed at BTIG Research

BTIG Research restated their buy rating on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note released on Thursday,Benzinga reports. The firm currently has a $65.00 target price on the stock.

Several other brokerages also recently weighed in on RAPP. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target for the company. Raymond James Financial started coverage on Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.86.

Rapport Therapeutics Stock Up 0.5%

RAPP opened at $40.13 on Thursday. The firm has a market capitalization of $1.92 billion, a P/E ratio of -15.43 and a beta of 0.94. The firm’s 50 day moving average is $38.33 and its 200-day moving average is $33.05. Rapport Therapeutics has a 52-week low of $13.62 and a 52-week high of $43.76.

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

Insider Buying and Selling at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the sale, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 428,703 shares of company stock valued at $17,215,252. 12.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after buying an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Rapport Therapeutics in the 1st quarter worth approximately $2,039,000. Rhumbline Advisers increased its holdings in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after acquiring an additional 4,109 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after acquiring an additional 17,496 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at approximately $121,000.

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.