Rapport Therapeutics (NASDAQ:RAPP) Earns Outperform Rating from Analysts at William Blair

Equities researchers at William Blair began coverage on shares of Rapport Therapeutics (NASDAQ:RAPPGet Free Report) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the stock.

RAPP has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research reissued a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a research note on Thursday, July 16th. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. Raymond James Financial initiated 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 target on the stock. Finally, Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Read Our Latest Analysis on RAPP

Rapport Therapeutics Price Performance

Shares of RAPP opened at $42.13 on Tuesday. Rapport Therapeutics has a 1 year low of $13.62 and a 1 year high of $44.28. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.20 and a beta of 0.94. The business has a 50-day moving average of $38.90 and a 200-day moving average of $33.66.

Rapport Therapeutics (NASDAQ:RAPPGet 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 company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, sell-side analysts anticipate that Rapport Therapeutics will post -3.33 EPS for the current year.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the transaction, the insider directly owned 6,437,733 shares of the company’s stock, valued at $258,281,847.96. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 428,703 shares of company stock worth $17,215,252. 12.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently made changes to their positions in the stock. AlphaCentric Advisors LLC boosted its position in shares of Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after purchasing an additional 408 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after buying an additional 828 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after buying an additional 905 shares during the period. KBC Group NV bought a new position in Rapport Therapeutics in the first quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics in the fourth quarter valued at approximately $37,000.

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.

Further Reading

Analyst Recommendations for Rapport Therapeutics (NASDAQ:RAPP)

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