Rapport Therapeutics (NASDAQ:RAPP) Announces Earnings Results

Key Points

• Rapport Therapeutics reported a quarterly loss of $1.19 per share, missing the consensus estimate of a $0.96 loss by $0.23.
• The stock rose to $42.52 in mid-day trading, near its 52-week high of $44.28. Analysts remain generally bullish, with a “Moderate Buy” consensus rating and an average price target of $57.86.
• Insiders sold 430,913 shares worth approximately $17.3 million over the past 90 days, while several institutional investors increased their positions during the first and second quarters.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) released its earnings results on Wednesday. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.23), FiscalAI reports.

Rapport Therapeutics Stock Performance

Rapport Therapeutics stock traded up $0.33 during mid-day trading on Wednesday, hitting $42.52. 126,208 shares of the company traded hands, compared to its average volume of 349,656. The stock has a fifty day moving average price of $39.46 and a 200-day moving average price of $34.23. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -16.36 and a beta of 0.97. Rapport Therapeutics has a one year low of $13.62 and a one year high of $44.28.

Insider Activity

In related news, CEO Abraham Ceesay sold 2,210 shares of the firm's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $42.11, for a total value of $93,063.10. Following the sale, the chief executive officer owned 537,607 shares in the company, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction on 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 $251,535,026.25. This represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 430,913 shares of company stock valued at $17,308,315 over the last 90 days. 12.48% of the stock is currently owned by company insiders.

Institutional Trading of Rapport Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after purchasing an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rapport Therapeutics in the first quarter worth about $2,039,000. Rhumbline Advisers increased its holdings in shares of Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock worth $144,000 after purchasing an additional 4,109 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock valued at $3,789,000 after buying an additional 17,496 shares during the last quarter. Finally, Creative Planning purchased a new position in Rapport Therapeutics during the 2nd quarter valued at approximately $121,000.

Wall Street Analyst Weigh In

RAPP has been the subject of several research analyst reports. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. William Blair began coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an "outperform" rating for the company. BTIG Research reiterated a "buy" rating and set a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday. Truist Financial started coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective for the company. Finally, Raymond James Financial started coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a "strong-buy" rating and a $66.00 target price for the company. One analyst has 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.86.

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.

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