Rapport Therapeutics (NASDAQ:RAPP) Receives Buy Rating from BTIG Research

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report)'s stock had its "buy" rating reiterated by analysts at BTIG Research in a research report issued on Friday,Benzinga reports. They currently have a $53.00 price target on the stock. BTIG Research's price target indicates a potential upside of 32.73% from the stock's previous close.

Several other research firms have also weighed in on RAPP. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wells Fargo & Company increased their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, March 11th. Truist Financial upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price target for the company. Finally, Wall Street Zen downgraded shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rapport Therapeutics presently has a consensus rating of "Buy" and an average price target of $54.83.

Rapport Therapeutics Trading Up 7.7%

Shares of RAPP opened at $39.93 on Friday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -13.96 and a beta of 0.82. The stock has a 50 day moving average of $32.08 and a 200 day moving average of $29.36. Rapport Therapeutics has a 12 month low of $7.73 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.67) by $0.25. The business had revenue of $20.00 million for the quarter, compared to analysts' expectations of $7.50 million. As a group, equities research analysts predict that Rapport Therapeutics will post -3.1 earnings per share for the current year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the sale, the insider directly owned 6,709,228 shares of the company's stock, valued at $270,516,072.96. This represents a 5.97% 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, CEO Abraham Ceesay sold 5,083 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.36, for a total transaction of $149,236.88. Following the sale, the chief executive officer directly owned 20,729 shares in the company, valued at approximately $608,603.44. This trade represents a 19.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 487,885 shares of company stock valued at $19,319,002. Insiders own 13.57% of the company's stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Rapport Therapeutics by 168.9% during the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock valued at $7,025,000 after buying an additional 141,011 shares during the period. AlphaCentric Advisors LLC increased its position in shares of Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company's stock valued at $201,000 after buying an additional 408 shares during the period. KBC Group NV bought a new stake in shares of Rapport Therapeutics during the first quarter valued at about $30,000. Swiss National Bank increased its position in shares of Rapport Therapeutics by 3.5% during the first quarter. Swiss National Bank now owns 56,500 shares of the company's stock valued at $1,768,000 after buying an additional 1,900 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Rapport Therapeutics during the first quarter valued at about $215,000.

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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