Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares of the company’s stock, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Rapport Therapeutics Stock Performance
Shares of RAPP stock opened at $39.49 on Friday. Rapport Therapeutics, Inc. has a 52-week low of $7.73 and a 52-week high of $42.27. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -15.19 and a beta of 0.82. The firm has a fifty day moving average of $34.60 and a 200-day moving average of $30.51.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $7.50 million. On average, sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current year.
Institutional Investors Weigh In On Rapport Therapeutics
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on RAPP shares. Wells Fargo & Company increased their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rapport Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $58.83.
View Our Latest Analysis on RAPP
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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