Rapport Therapeutics (NASDAQ:RAPP) Posts Earnings Results, Beats Estimates By $0.25 EPS

Key Points

• Rapport Therapeutics beat Q quarterly expectations, reporting EPS of ($0.42) versus the ($0.67) consensus estimate. Revenue also came in well above expectations at $20.0 million versus $7.5 million projected.
• The stock fell 4.7% in Friday trading despite the earnings beat, with shares last seen at $38.04. The company has a market cap of about $1.82 billion and remains below its 52-week high of $42.27.
• Wall Street remains generally bullish on RAPP, with a consensus rating of Buy and a consensus target price of $54.83. However, insider selling has been notable, including recent sales by the COO and another insider.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.67) by $0.25, FiscalAI reports. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million.

Rapport Therapeutics Stock Down 4.7%

Rapport Therapeutics stock traded down $1.89 during mid-day trading on Friday, hitting $38.04. The company's stock had a trading volume of 373,430 shares, compared to its average volume of 381,446. The stock has a market capitalization of $1.82 billion, a P/E ratio of -14.63 and a beta of 0.82. Rapport Therapeutics has a twelve month low of $7.73 and a twelve month high of $42.27. The stock's fifty day moving average price is $32.08 and its two-hundred day moving average price is $29.36.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RAPP. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 14th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price objective on the stock. BTIG Research reiterated a "buy" rating and set a $53.00 price objective on shares of Rapport Therapeutics in a research note on Friday. Finally, Wells Fargo & Company raised their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $54.83.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, COO Cheryl Gault sold 2,014 shares of Rapport Therapeutics stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $28.93, for a total value of $58,265.02. Following the transaction, the chief operating officer owned 169,914 shares in the company, valued at approximately $4,915,612.02. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares in the company, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 487,885 shares of company stock valued at $19,319,002 in the last 90 days. 13.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAPP. Vestal Point Capital LP acquired a new position in Rapport Therapeutics in the 3rd quarter worth approximately $28,215,000. Polar Capital Holdings Plc acquired a new position in Rapport Therapeutics in the 3rd quarter worth approximately $27,887,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company's stock worth $26,500,000 after purchasing an additional 648,378 shares during the period. Vanguard Group Inc. boosted its stake in Rapport Therapeutics by 46.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company's stock worth $48,308,000 after purchasing an additional 519,047 shares during the period. Finally, State Street Corp boosted its stake in Rapport Therapeutics by 92.3% in the 4th quarter. State Street Corp now owns 714,821 shares of the company's stock worth $21,688,000 after purchasing an additional 343,195 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.

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.