Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is positive: Twelve brokerages rate Rapport Therapeutics a consensus “Moderate Buy,” including ten buys and one strong buy. The average 12-month price target is $57.86, above the reported share price of $46.35.
• Shares have risen sharply: RAPP trades near its 12-month high of $46.72, with its 50-day and 200-day moving averages at $39.65 and $34.48, respectively. The company has a market capitalization of approximately $2.22 billion.
• Quarterly results fell short of expectations: Rapport reported a quarterly loss of $1.19 per share versus the consensus estimate of a $1.12 loss, while analysts expect a full-year loss of $3.26 per share. Insiders sold roughly $6.21 million of stock over the past 90 days.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $57.8571.

Several analysts have recently commented on RAPP shares. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an "outperform" rating on the stock. Leerink Partners initiated coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an "outperform" rating and a $52.00 target price for the company. Raymond James Financial initiated coverage on Rapport Therapeutics in a research report on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 target price on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Finally, BTIG Research reiterated a "buy" rating and set a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares in the company, valued at $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the completion of the sale, the insider directly owned 6,299,097 shares in the company, valued at $253,475,663.28. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 154,400 shares of company stock worth $6,213,660 in the last ninety days. 12.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in Rapport Therapeutics during the first quarter worth $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $43,000. State of Wyoming purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $65,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock valued at $70,000 after buying an additional 905 shares during the period.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $46.35 on Friday. The firm's 50-day moving average is $39.65 and its two-hundred day moving average is $34.48. Rapport Therapeutics has a 12 month low of $13.62 and a 12 month high of $46.72. The company has a market capitalization of $2.22 billion, a PE ratio of -15.25 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly 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). Sell-side analysts forecast that Rapport Therapeutics will post -3.26 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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