Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) shares rose 8.4% on Friday . The stock traded as high as $37.58 and last traded at $38.1690. Approximately 12,922 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 333,619 shares. The stock had previously closed at $35.21.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on RAPP. Wells Fargo & Company boosted their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Finally, Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $58.83.
Read Our Latest Analysis on RAPP
Rapport Therapeutics Price Performance
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, equities research analysts predict that Rapport Therapeutics, Inc. will post -3.08 EPS for the current year.
Insider Transactions at Rapport Therapeutics
In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the sale, the insider directly owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by insiders.
Institutional Trading of Rapport Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics in the 4th quarter valued at about $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after buying an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after buying an additional 4,582 shares in 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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