BTIG Research Reaffirms "Buy" Rating for Rapport Therapeutics (NASDAQ:RAPP)

Key Points

• BTIG reaffirmed a "Buy" rating on Rapport Therapeutics with a $53 price target (about a 44% upside), and the consensus analyst rating is "Buy" with an average target of $54.83.
• The stock is trading near $36.78 with a market cap of $1.76 billion and a 52-week range of $7.73 to $42.27, reflecting substantial volatility.
• Rapport reported a quarterly EPS loss of ($0.72) that missed estimates and faces an expected -3.1 EPS for the year, while insiders sold 487,885 shares (~$19.3M) last quarter despite insiders holding 13.57% of shares.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $53.00 target price on the stock. BTIG Research's price objective would indicate a potential upside of 44.10% from the stock's current price.

A number of other research firms have also recently weighed in on RAPP. Wells Fargo & Company increased their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, March 11th. TD Cowen reaffirmed a "buy" rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Wall Street Zen lowered Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 14th. Finally, Raymond James Financial started coverage on Rapport Therapeutics in a report on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $54.83.

Rapport Therapeutics Trading Down 0.5%

Shares of Rapport Therapeutics stock opened at $36.78 on Wednesday. The stock has a market cap of $1.76 billion, a PE ratio of -12.86 and a beta of 1.09. The company's 50-day moving average price is $30.88 and its two-hundred day moving average price is $28.74. Rapport Therapeutics has a 52 week low of $7.73 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.07). On average, equities analysts predict that Rapport Therapeutics will post -3.1 EPS for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total transaction 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 represents a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the sale, the insider owned 6,709,228 shares of the company's stock, valued at approximately $270,516,072.96. This represents a 5.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 487,885 shares of company stock worth $19,319,002 in the last quarter. 13.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics during the 4th quarter worth $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the 3rd quarter worth $43,000. Strs Ohio lifted its position in shares of Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company's stock worth $62,000 after buying an additional 400 shares during the last quarter. 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 worth $70,000 after buying an additional 905 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after buying an additional 4,582 shares during the last quarter.

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.

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