Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) major shareholder Rock Ventures L.P. Third sold 271,495 shares of Rapport Therapeutics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares in the company, valued at approximately $258,281,847.96. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Rapport Therapeutics Stock Up 2.3%
NASDAQ RAPP opened at $38.08 on Thursday. The company has a 50-day simple moving average of $32.77 and a two-hundred day simple moving average of $29.70. Rapport Therapeutics, Inc. has a 12-month low of $7.73 and a 12-month high of $42.27. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -14.65 and a beta of 0.82.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. Equities analysts expect that Rapport Therapeutics, Inc. will post -3.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rapport Therapeutics
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on RAPP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. BTIG Research reissued a “buy” rating and set a $53.00 price target on shares of Rapport Therapeutics in a research report on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $54.83.
View Our Latest Report on Rapport Therapeutics
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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