Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.28 and last traded at $42.9750, with a volume of 11402 shares traded. The stock had previously closed at $42.62.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Leerink Partners initiated coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price for the company. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price for the company. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research reaffirmed a “buy” rating and set a $65.00 price objective on shares of Rapport Therapeutics in a research report on Thursday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. One equities 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.
Read Our Latest Analysis on RAPP
Rapport Therapeutics Trading Down 2.6%
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. On average, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 EPS for the current year.
Insider Transactions at Rapport Therapeutics
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 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. The trade was a 0.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 428,703 shares of company stock valued at $17,215,252. Company insiders own 12.48% of the company’s stock.
Institutional Trading of Rapport Therapeutics
Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Rapport Therapeutics by 220.7% during the first quarter. Bank of America Corp DE now owns 110,826 shares of the company’s stock worth $3,468,000 after buying an additional 76,273 shares in the last quarter. California State Teachers Retirement System grew its stake in Rapport Therapeutics by 25.2% during the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company’s stock worth $1,046,000 after buying an additional 6,736 shares during the last quarter. Sei Investments Co. increased its holdings in Rapport Therapeutics by 68.7% during the 1st quarter. Sei Investments Co. now owns 30,819 shares of the company’s stock valued at $964,000 after purchasing an additional 12,551 shares in the last quarter. Walleye Capital LLC bought a new position in Rapport Therapeutics in the 1st quarter valued at $349,000. Finally, Dimensional Fund Advisors LP raised its position in Rapport Therapeutics by 168.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after purchasing an additional 141,011 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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