Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 5.4% - Time to Buy?

Key Points

• Rapport Therapeutics shares rose 5.4% on Friday, trading as high as $41.10 before last changing hands at $42.09, though volume was far below average.
• Analyst sentiment remains largely positive, with a consensus rating of “Moderate Buy” and an average price target of $57.86; BTIG and Leerink both reiterated bullish views.
• The company recently beat quarterly expectations, reporting a loss of $0.42 per share versus a forecasted $0.56 loss and revenue of $20 million versus $7.5 million expected.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) were up 5.4% during trading on Friday . The company traded as high as $41.10 and last traded at $42.09. 30,549 shares changed hands during trading, a decline of 91% from the average daily volume of 355,580 shares. The stock had previously closed at $39.93.

Wall Street Analysts Forecast Growth

Several research firms have commented on RAPP. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. BTIG Research reaffirmed a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Thursday. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rapport Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $57.86.

Rapport Therapeutics Stock Performance

The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -16.15 and a beta of 0.94. The company has a fifty day moving average of $38.33 and a two-hundred day moving average of $33.05.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Equities analysts forecast that Rapport Therapeutics, Inc. will post -3.25 EPS for the current year.

Insider Activity

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company's stock, valued at approximately $251,535,026.25. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 428,703 shares of company stock valued at $17,215,252 over the last three months. Insiders own 12.48% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the business. KBC Group NV bought a new stake in Rapport Therapeutics in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics during the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics during the third quarter worth approximately $43,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 purchasing an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at approximately $143,000.

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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