Rapport Therapeutics (NASDAQ:RAPP) Sets New 12-Month High - Time to Buy?

Key Points

• Rapport Therapeutics shares hit a new 52-week high of $50.34 and last traded at $49.33, up 2.3%, giving the company a market capitalization of about $2.37 billion.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $62.86, although some firms maintain “Sell” ratings.
• The company reported a quarterly loss of $1.19 per share, worse than the expected $1.12 loss. Meanwhile, insiders sold more than $2.5 million of stock over the past three months, while several institutional investors increased or initiated positions.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.34 and last traded at $49.33, with a volume of 365422 shares changing hands. The stock had previously closed at $48.24.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RAPP shares. UBS Group reissued a "strong-buy" rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. Wall Street Zen downgraded shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price objective on shares of Rapport Therapeutics in a report on Monday, August 17th. Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $62.86.

Rapport Therapeutics Trading Up 2.3%

The stock has a market capitalization of $2.37 billion, a P/E ratio of -16.23 and a beta of 0.97. The stock's 50 day simple moving average is $42.34 and its 200 day simple moving average is $36.26.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, sell-side analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 28,958 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the completion of the sale, the chief executive officer directly owned 486,108 shares of the company's stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 54,113 shares of company stock valued at $2,546,243 in the last three months. 12.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Johnson & Johnson bought a new position in Rapport Therapeutics during the second quarter worth $74,360,823,000. Swedbank AB bought a new stake in Rapport Therapeutics during the fourth quarter valued at $3,434,000. Walleye Capital LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $4,257,000. Dimensional Fund Advisors LP raised its holdings in shares of Rapport Therapeutics by 168.9% during the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock worth $7,025,000 after purchasing an additional 141,011 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock worth $91,077,000 after purchasing an additional 579,903 shares during the period.

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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