Rapport Therapeutics (NASDAQ:RAPP) Hits New 12-Month High - Should You Buy?

Key Points

• Rapport Therapeutics hit a new 52-week high, trading as high as $44.28 as investors continued to bid up the biotech stock.
• Analyst sentiment is mostly bullish, with multiple firms issuing buy or outperform ratings and an average price target of $57.86.
• The company recently beat earnings expectations, reporting a smaller-than-expected loss and $20 million in revenue versus the $7.5 million analysts had forecast.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $44.28 and last traded at $42.9750, with a volume of 11402 shares trading hands. The stock had previously closed at $42.62.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial assumed coverage on Rapport Therapeutics in a research report on Monday, May 18th. They set a "buy" rating and a $56.00 price target on the stock. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, BTIG Research reaffirmed a "buy" rating and set a $65.00 price target on shares of Rapport Therapeutics in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.86.

Rapport Therapeutics Stock Performance

The firm has a fifty day simple moving average of $38.42 and a 200-day simple moving average of $33.14. The company has a market capitalization of $1.99 billion, a PE ratio of -16.04 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to analysts' expectations of $7.50 million. As a group, research analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of Rapport Therapeutics stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $40.12, for a total value of $10,892,379.40. Following the completion of the transaction, the insider directly owned 6,437,733 shares in the company, valued at approximately $258,281,847.96. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 428,703 shares of company stock worth $17,215,252 over the last quarter. Company insiders own 12.48% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Rapport Therapeutics by 220.7% in the first quarter. Bank of America Corp DE now owns 110,826 shares of the company's stock worth $3,468,000 after acquiring an additional 76,273 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Rapport Therapeutics by 25.2% during the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company's stock worth $1,046,000 after buying an additional 6,736 shares during the period. Sei Investments Co. boosted its position in shares of Rapport Therapeutics by 68.7% during the first quarter. Sei Investments Co. now owns 30,819 shares of the company's stock worth $964,000 after buying an additional 12,551 shares during the period. Walleye Capital LLC bought a new position in Rapport Therapeutics in the 1st quarter worth approximately $349,000. Finally, Dimensional Fund Advisors LP grew its holdings in Rapport Therapeutics by 168.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock worth $7,025,000 after buying an additional 141,011 shares in 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.

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