Rapport Therapeutics (NASDAQ:RAPP) Reaches New 52-Week High - Here's What Happened

Key Points

• Rapport Therapeutics shares reached a new 52-week high, trading as high as $44.38 and closing near that level, up from the prior close of $42.44. The company’s market capitalization is approximately $2.13 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $57.86; Truist set a $56 target, while Citigroup and William Blair also issued favorable ratings.
• The company slightly missed quarterly earnings expectations, reporting a loss of $1.19 per share versus the expected $1.18 loss. Insiders have sold roughly 159,418 shares worth $6.4 million over the past 90 days, while several institutional investors recently built or expanded positions.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.38 and last traded at $44.33, with a volume of 39808 shares. The stock had previously closed at $42.44.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RAPP. Truist Financial assumed coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They set a "buy" rating and a $56.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an "outperform" rating for the company. Finally, Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.86.

Rapport Therapeutics Stock Performance

The firm's 50-day simple moving average is $39.52 and its 200 day simple moving average is $34.34. The stock has a market capitalization of $2.13 billion, a P/E ratio of -17.18 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.01). As a group, research analysts expect that Rapport Therapeutics, Inc. will post -3.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of the firm's 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 completion of the transaction, the chief executive officer directly owned 537,607 shares in the company, valued at $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 business's stock in a transaction that occurred 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 trade represents a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 159,418 shares of company stock valued at $6,415,936. Corporate insiders own 12.48% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Johnson & Johnson bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $74,360,823,000. Vestal Point Capital LP acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at approximately $28,215,000. Polar Capital Holdings Plc bought a new stake in Rapport Therapeutics in the 3rd quarter valued at $27,887,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rapport Therapeutics by 265.9% during 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 buying an additional 648,378 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock worth $91,077,000 after acquiring an additional 579,903 shares during 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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