Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $57.8571.
A number of research firms have issued reports on RAPP. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. 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 for the company. Truist Financial started coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st.
Check Out Our Latest Analysis on Rapport Therapeutics
Rapport Therapeutics Stock Performance
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. As a group, equities analysts forecast that Rapport Therapeutics will post -3.25 earnings per share for the current fiscal year.
Insider Buying and Selling at Rapport Therapeutics
In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares of the company’s stock, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 885,133 shares of company stock valued at $35,558,387. Company insiders own 12.48% of the company’s stock.
Hedge Funds Weigh In On Rapport Therapeutics
Several hedge funds have recently modified their holdings of RAPP. Swedbank AB purchased a new stake in shares of Rapport Therapeutics during the fourth quarter valued at approximately $3,434,000. Maven Securities LTD purchased a new position in Rapport Therapeutics in the third quarter worth $594,000. Baker BROS. Advisors LP grew its stake in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after purchasing an additional 997,000 shares during the period. Goldman Sachs Group Inc. grew its stake in Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after purchasing an additional 579,903 shares during the period. Finally, Vanguard Group Inc. increased its position 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 purchasing an additional 191,219 shares during 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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