Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $57.8571.
A number of analysts have issued reports on RAPP shares. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Leerink Partners started coverage on Rapport Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $52.00 target price for the company. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. BTIG Research raised their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st.
Read Our Latest Research Report on RAPP
Rapport Therapeutics Stock Performance
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, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, sell-side analysts predict that Rapport Therapeutics will post -3.25 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction on Friday, April 17th. The stock was 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 approximately $9,854,575.74. This represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 895,158 shares of company stock valued at $35,908,941. Company insiders own 12.48% of the company’s stock.
Hedge Funds Weigh In On Rapport Therapeutics
Hedge funds have recently modified their holdings of the business. KBC Group NV purchased a new position in shares of Rapport Therapeutics during the 1st quarter worth $30,000. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics during the 4th quarter worth $37,000. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics during the 3rd quarter worth $43,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Rapport Therapeutics by 64.1% during the 4th 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, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares during the period.
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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