Rapport Therapeutics (NASDAQ:RAPP) Sets New 1-Year High - Time to Buy?

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $48.94 and last traded at $48.82, with a volume of 425313 shares traded. The stock had previously closed at $46.98.

Analyst Ratings Changes

RAPP has been the subject of several research analyst reports. BTIG Research reaffirmed a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 5th. Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a "buy" rating and a $56.00 price objective on the stock. Wall Street Zen downgraded shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. One 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. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $57.86.

Rapport Therapeutics Stock Up 3.9%

The company has a market capitalization of $2.34 billion, a PE ratio of -16.06 and a beta of 0.97. The firm's 50 day simple moving average is $40.25 and its 200 day simple moving average is $34.91.

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 predict that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Insider Activity

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of the business'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 transaction of $93,063.10. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the transaction, the insider directly owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 12.48% of the company's stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RAPP. Swedbank AB bought a new stake in shares of Rapport Therapeutics during the fourth quarter worth $3,434,000. Goldman Sachs Group Inc. grew its holdings in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock worth $91,077,000 after purchasing an additional 579,903 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Rapport Therapeutics by 168.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock worth $7,025,000 after buying an additional 141,011 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Rapport Therapeutics in the 1st quarter worth about $1,121,000. Finally, Vanguard Group Inc. lifted its holdings in Rapport Therapeutics by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock valued at $55,151,000 after buying an additional 191,219 shares in 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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