Rapport Therapeutics' (RAPP) Buy Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed a Buy rating on Rapport Therapeutics and kept its $65 price target, implying about 62.8% upside from the prior close.
• Other analysts have also been mostly positive, with several firms issuing Buy or Outperform ratings. MarketBeat now shows a Moderate Buy consensus and a $57.86 average target.
• Rapport Therapeutics recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue well above estimates. The stock also has seen recent insider selling, including a large sale by a major shareholder.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at BTIG Research in a report issued on Thursday,Benzinga reports. They presently have a $65.00 price target on the stock. BTIG Research's price target would indicate a potential upside of 62.78% from the stock's previous close.

Several other equities analysts also recently commented on RAPP. Truist Financial began coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 target price on the stock. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Raymond James Financial assumed coverage on Rapport Therapeutics in a research report on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 target price on the stock. Finally, Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.86.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $39.93 on Thursday. The stock has a fifty day simple moving average of $38.32 and a two-hundred day simple moving average of $32.98. Rapport Therapeutics has a 52-week low of $13.62 and a 52-week high of $43.76. The firm has a market capitalization of $1.91 billion, a PE ratio of -15.36 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. On average, sell-side analysts forecast that Rapport Therapeutics will post -3.25 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the transaction, the insider owned 246,426 shares of the company's stock, valued at $9,854,575.74. This trade represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 874,933 shares of company stock worth $35,200,571 over the last quarter. 12.48% of the stock is currently owned by insiders.

Institutional Trading of Rapport Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV bought a new position in shares of Rapport Therapeutics in the first quarter worth about $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new stake in Rapport Therapeutics in the 3rd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after acquiring an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after acquiring an additional 4,582 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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