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

Key Points

• Rapport Therapeutics has a consensus analyst rating of “Moderate Buy” from 11 covering firms, with nine buy ratings and one strong buy. The average 12-month price target is about $57.86.
• The stock recently traded around $41.75, near its 52-week high of $43.76, giving the company a market cap of roughly $2.0 billion. Its 50-day and 200-day moving averages were $38.00 and $32.76, respectively.
• Rapport’s latest quarterly results beat expectations, posting an EPS loss of ($0.42) versus estimates of ($0.56) and revenue of $20.0 million versus $7.5 million expected. However, insiders have recently sold shares, including a notable sale by insider Krishnaswamy Yeleswaram.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $57.8571.

A number of research firms have issued reports on RAPP. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective for the company. Truist Financial started coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 target price on the stock. Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st.

Rapport Therapeutics Stock Performance

RAPP opened at $41.75 on Monday. Rapport Therapeutics has a 1-year low of $13.43 and a 1-year high of $43.76. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -16.06 and a beta of 0.94. The company's fifty day moving average price is $38.00 and its two-hundred day moving average price is $32.76.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. As a group, equities analysts forecast that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares of the company's stock, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 885,133 shares of company stock valued at $35,558,387. Company insiders own 12.48% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of RAPP. Swedbank AB purchased a new stake in shares of Rapport Therapeutics during the fourth quarter valued at approximately $3,434,000. Maven Securities LTD purchased a new position in Rapport Therapeutics in the third quarter worth $594,000. Baker BROS. Advisors LP grew its stake in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company's stock valued at $45,949,000 after purchasing an additional 997,000 shares during the period. Goldman Sachs Group Inc. grew its stake in Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock valued at $91,077,000 after purchasing an additional 579,903 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Rapport Therapeutics by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock valued at $55,151,000 after purchasing an additional 191,219 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.

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.