Key Points
- Insider sale: Krishnaswamy Yeleswaram sold 404 Rapport Therapeutics shares for $20,159.60 at an average price of $49.90, reducing ownership by 0.16% while retaining 246,022 shares.
- Stock performance: RAPP opened at $47.85 and has risen substantially from its 52-week low of $13.90, with a 52-week high of $49.90 and a market capitalization of approximately $2.30 billion.
- Analyst outlook and earnings: Analysts maintain a consensus “Buy” rating with a $62.86 price target, although the company’s latest quarterly loss of $1.19 per share missed estimates of $1.12.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) insider Krishnaswamy Yeleswaram sold 404 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $49.90, for a total transaction of $20,159.60. Following the completion of the sale, the insider owned 246,022 shares of the company's stock, valued at $12,276,497.80. This trade represents a 0.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Rapport Therapeutics Price Performance
Shares of NASDAQ:RAPP opened at $47.85 on Friday. The business has a 50-day moving average of $41.92 and a two-hundred day moving average of $35.96. Rapport Therapeutics, Inc. has a fifty-two week low of $13.90 and a fifty-two week high of $49.90. The stock has a market capitalization of $2.30 billion, a P/E ratio of -15.74 and a beta of 0.97.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, research analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.
Analyst Ratings Changes
RAPP has been the topic of several research reports. Truist Financial started coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They set a "buy" rating and a $56.00 price objective on the stock. Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price objective on shares of Rapport Therapeutics in a research report on Monday. Leerink Partners began coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective on the stock. William Blair initiated coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They set an "outperform" rating on the stock. Finally, Wall Street Zen cut shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $62.86.
Read Our Latest Analysis on Rapport Therapeutics
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of RAPP. TRV GP V LLC acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $261,709,477,000. ARCH Venture Management LLC bought a new position in shares of Rapport Therapeutics in the second quarter valued at about $155,376,512,000. Goldman Sachs Group Inc. raised its stake in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock worth $91,077,000 after acquiring an additional 579,903 shares during the last quarter. BlackRock Inc. bought a new position in Rapport Therapeutics in the 2nd quarter worth approximately $112,500,000. Finally, Vanguard Group Inc. raised its position in shares of Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock worth $55,151,000 after acquiring an additional 191,219 shares during the last quarter.
About Rapport Therapeutics
(
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
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