Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 4.2% - Here's What Happened

Key Points

• Shares of Rapport Therapeutics fell 4.2% on Monday to about $38.03 (intraday low $37.73) on very light trading—~29,664 shares exchanged hands, roughly 91% below the stock's average daily volume.
• Analysts carry a consensus Buy rating with an average target of $53.83; several firms (Truist, Raymond James) have issued or initiated Strong-Buy views while a few outlets (Weiss, Wall Street Zen) remain negative.
• Fundamentals show a recent earnings miss (EPS -$0.72 vs. -$0.65 est.) and a projected full-year EPS of -3.65; insiders have sold stock recently (52,571 shares in 90 days) even as major institutions (Capital International, Goldman, Vanguard) increased positions.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report)'s share price dropped 4.2% during trading on Monday . The company traded as low as $37.73 and last traded at $38.0320. Approximately 29,664 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 341,688 shares. The stock had previously closed at $39.71.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Raymond James Financial assumed coverage on Rapport Therapeutics in a research note on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Rapport Therapeutics presently has a consensus rating of "Buy" and an average target price of $53.83.

Rapport Therapeutics Trading Down 5.8%

The business has a 50 day moving average of $30.33 and a 200-day moving average of $28.56. The stock has a market cap of $1.79 billion, a PE ratio of -13.14 and a beta of 1.09.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.07). On average, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total transaction of $246,670.00. Following the sale, the insider owned 387,075 shares of the company's stock, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Cheryl Gault sold 2,014 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the transaction, the chief operating officer directly owned 169,914 shares of the company's stock, valued at approximately $4,915,612.02. This represents a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,571 shares of company stock worth $1,618,757 in the last ninety days. 13.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the business. Capital International Investors boosted its holdings in shares of Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company's stock worth $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Rapport Therapeutics by 23.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock valued at $91,077,000 after acquiring an additional 579,903 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 191,219 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company's stock valued at $45,949,000 after acquiring an additional 997,000 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company's stock valued at $13,129,000 after acquiring an additional 45,063 shares during 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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