Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $43.34 and last traded at $43.5650, with a volume of 251378 shares. The stock had previously closed at $40.39.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on RAPP shares. BTIG Research increased their price objective on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Raymond James Financial began coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price target on the stock. 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. Finally, TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.
Get Our Latest Stock Report on RAPP
Rapport Therapeutics Stock Performance
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. On average, research analysts predict that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the transaction, the insider directly owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics 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 directly owned 6,280,525 shares of the company’s stock, valued at approximately $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 895,158 shares of company stock worth $35,908,941. Company insiders own 12.48% of the company’s stock.
Institutional Trading of Rapport Therapeutics
A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV purchased a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new position in Rapport Therapeutics during the fourth quarter valued at $37,000. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics during the third quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after acquiring an additional 4,582 shares during the last quarter.
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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