Rapport Therapeutics (NASDAQ:RAPP) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Rapport Therapeutics to “sell” from “hold,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $57.86.
• Rapport shares opened at $45.49, near their 52-week high of $48.00, but the company reported a quarterly loss of $1.19 per share, missing estimates by $0.07.
• Insiders have been net sellers: executives and major shareholders sold 154,400 shares worth about $6.2 million over the past three months, while company insiders retain a 12.48% ownership stake.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Leerink Partners began coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price target for the company. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 price objective on the stock. BTIG Research restated a "buy" rating and set a $65.00 price objective on shares of Rapport Therapeutics in a research report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Finally, Citigroup restated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.86.

Rapport Therapeutics Stock Down 1.9%

RAPP opened at $45.49 on Friday. Rapport Therapeutics has a 52 week low of $13.86 and a 52 week high of $48.00. The business has a 50 day moving average price of $39.77 and a two-hundred day moving average price of $34.55. The company has a market cap of $2.18 billion, a PE ratio of -14.96 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its 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). As a group, sell-side analysts expect that Rapport Therapeutics will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the sale, the chief executive officer directly owned 537,607 shares in the company, valued at $22,638,630.77. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $40.24, for a total value of $5,376,788.32. Following the transaction, the insider directly owned 6,299,097 shares in the company, valued at $253,475,663.28. This represents a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 154,400 shares of company stock valued at $6,213,660. Company insiders own 12.48% of the company's stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Rapport Therapeutics during the 1st quarter worth $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at about $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at about $43,000. State of Wyoming purchased a new stake in Rapport Therapeutics during the second quarter worth about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after buying an additional 905 shares in the last quarter.

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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