Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives Consensus Rating of “Buy” from Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPPGet Free Report) has earned an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $62.8571.

A number of brokerages recently commented on RAPP. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target for the company. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. UBS Group reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a report on Monday, August 17th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Finally, William Blair began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They issued an “outperform” rating for the company.

View Our Latest Analysis on Rapport Therapeutics

Rapport Therapeutics Stock Down 0.2%

Shares of RAPP stock opened at $48.67 on Tuesday. The stock has a market cap of $2.34 billion, a P/E ratio of -16.01 and a beta of 0.97. Rapport Therapeutics has a 52 week low of $14.11 and a 52 week high of $52.93. The company’s fifty day simple moving average is $43.61 and its two-hundred day simple moving average is $37.08.

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, analysts anticipate that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 18,921 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $49.57, for a total transaction of $937,913.97. Following the completion of the transaction, the chief executive officer owned 467,187 shares in the company, valued at $23,158,459.59. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 73,034 shares of company stock worth $3,484,157 over the last quarter. 12.48% of the stock is owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

A number of large investors have recently made changes to their positions in the business. Johnson & Johnson bought a new position in shares of Rapport Therapeutics in the 2nd quarter valued at about $74,360,823. Swedbank AB bought a new stake in Rapport Therapeutics during the fourth quarter worth approximately $3,434,000. Algert Global LLC bought a new stake in Rapport Therapeutics during the second quarter worth approximately $9,327,000. Walleye Capital LLC purchased a new stake in Rapport Therapeutics during the second quarter valued at approximately $4,257,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of 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

(Get Free Report)

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.

See Also

Analyst Recommendations for Rapport Therapeutics (NASDAQ:RAPP)

Receive News & Ratings for Rapport Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapport Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.