Rapport Therapeutics (NASDAQ:RAPP) Given "Buy" Rating at BTIG Research

Key Points

• BTIG Research reaffirmed a “Buy” rating on Rapport Therapeutics with a $65 price target, implying 32.63% upside from the prior close. The stock has a consensus “Buy” rating and an average target of $62.86.
• Rapport shares opened at $49.01 and are near their 52-week high of $49.50, with a market capitalization of approximately $2.35 billion. The company reported quarterly EPS of -$1.19, missing the consensus estimate of -$1.12.
• Company insiders have sold 72,281 shares worth roughly $3.27 million over the past 90 days, while several major institutional investors—including BlackRock, Goldman Sachs, and Vanguard—hold or recently increased positions.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report)'s stock had its "buy" rating reaffirmed by BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $65.00 price objective on the stock. BTIG Research's price objective points to a potential upside of 32.63% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial began coverage on Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $75.00 target price on shares of Rapport Therapeutics in a research note on Monday. William Blair assumed coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They issued an "outperform" rating on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Finally, UBS Group reiterated a "strong-buy" rating on shares of Rapport Therapeutics in a report on Monday. 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, Rapport Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $62.86.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP opened at $49.01 on Wednesday. Rapport Therapeutics has a 1 year low of $13.86 and a 1 year high of $49.50. The business has a 50 day simple moving average of $41.39 and a two-hundred day simple moving average of $35.65. The firm has a market capitalization of $2.35 billion, a PE ratio of -16.12 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued 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). Equities research analysts expect that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company's stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,281 shares of company stock worth $3,269,892 over the last 90 days. 12.48% of the stock is currently owned by company insiders.

Institutional Trading of Rapport Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. TRV GP V LLC bought a new position in Rapport Therapeutics during the 2nd quarter worth about $261,709,477,000. ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $155,376,512,000. Goldman Sachs Group Inc. lifted its position in shares of Rapport Therapeutics by 23.9% in the 4th 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. BlackRock Inc. purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $112,500,000. Finally, Vanguard Group Inc. lifted its position in shares of Rapport Therapeutics by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock worth $55,151,000 after purchasing an additional 191,219 shares during the period.

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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