Rapport Therapeutics (NASDAQ:RAPP) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Rapport Therapeutics from sell to hold, adding to a mixed but generally positive analyst view on the stock. The current consensus rating remains Buy with an average price target of $54.83.
• The company reported stronger-than-expected quarterly results, posting EPS of ($0.42) versus estimates for ($0.56) and revenue of $20 million versus the $7.5 million consensus estimate.
• Rapport Therapeutics shares were trading at $38.04, near the top of their 52-week range of $7.73 to $42.27, while recent insider selling and ongoing institutional buying showed active trading interest in the name.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

RAPP has been the subject of a number of other reports. TD Cowen reiterated a "buy" rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Truist Financial upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company lifted their target price 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 data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $54.83.

Rapport Therapeutics Stock Performance

RAPP stock opened at $38.04 on Friday. The stock has a market cap of $1.82 billion, a P/E ratio of -14.63 and a beta of 0.82. The firm has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $29.36. Rapport Therapeutics has a 52 week low of $7.73 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. Sell-side analysts predict that Rapport Therapeutics will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the sale, the insider directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Cheryl Gault sold 2,014 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the sale, the chief operating officer owned 169,914 shares of the company's stock, valued at $4,915,612.02. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 487,885 shares of company stock valued at $19,319,002 in the last three months. Company insiders own 13.57% of the company's stock.

Institutional Trading of Rapport Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after buying an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Rapport Therapeutics in the first quarter worth $2,039,000. Rhumbline Advisers lifted its stake 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 buying an additional 4,109 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rapport Therapeutics by 5.5% in the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock worth $3,789,000 after buying an additional 17,496 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics in the second quarter worth $121,000.

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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