RAPP

Company Overview — What Does Rapport Therapeutics, Inc. Do?

We are a clinical-stage biopharmaceutical company focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system (“CNS”) disorders. Neuronal receptors are complex assemblies of proteins, comprising receptor principal subunits and their receptor associated proteins (“RAPs”), the latter of which play crucial roles in regulating receptor expression and function. Our founders have made pioneering discoveries related to RAP function to form the basis of our RAP technology platform. We believe that our deep expertise in RAP biology provides an opportunity for us to interrogate previously inaccessible targets and develop CNS drugs that are specific for receptor variants and neuroanatomical regions associated with certain diseases. RAP-219, our most advanced product candidate, is an AMPA receptor (“AMPAR”) negative allosteric modulator (“NAM”). RAP-219 is designed to achieve neuroanatomical specificity through its selective targeting of a RAP known as TARPγ8, which is associated with the neuronal AMPAR, a clinically validated target for epilepsy. Whereas AMPARs are distributed widely in the CNS, TARPγ8 is expressed only in discrete regions, including the hippocampus, a key site involved in focal epilepsy. We completed our Phase 1 trials in healthy adults to assess the safety and tolerability of RAP-219, and we intend to initiate a Phase 2a proof-of-concept trial in adult patients with drug-resistant focal epilepsy in the second or third quarter of (“mid”) 2024, with topline results expected in mid 2025. We believe RAP-219 also has therapeutic potential in peripheral neuropathic pain and bipolar disorder, and we intend to initiate Phase 2a trials in these indications in the second half of 2024 and in 2025, respectively. We have also identified another TARPγ8 targeted molecule with differentiated chemical and pharmacokinetic properties, RAP-199, for which we expect to initiate a Phase 1 trial in the first half of 2025. Beyond TARPγ8, we have two advanced discovery-stage nicotinic acetylcholine receptor (“nAChR”) programs stemming from our RAP technology platform. Our first discovery-stage nAChR program comprises modulators of a6 nAChRs that we are developing for the treatment of chronic pain. Our second discovery-stage nAChR program comprises modulators of a9a10 nAChRs that we are developing for the treatment of hearing disorders. We continue to leverage our RAP technology platform to discover additional product candidates. Rapport was formed in February 2022, with founding support from Third Rock Ventures and Johnson & Johnson Innovation-JJDC. Our scientific founder and Chief Scientific Officer, David Bredt, M.D., Ph.D., pioneered the discovery of RAPs and their targeting by small molecules while serving as Global Head of Neuroscience Discovery at Janssen Pharmaceutica NV (“Janssen”) and prior to that as Vice President of Neuroscience at Eli Lilly and Company and as a Professor of Physiology at the University of California, San Francisco. Dr. Bredt was subsequently joined at Rapport by additional scientists who previously worked on the RAP platform at Janssen. In August 2022, we entered into a license agreement with Janssen (the “Janssen License”) for the research, development and commercialization of certain TARPγ8 products, including RAP-219 and RAP-199, and nAChR products created by Dr. Bredt and his colleagues at Janssen. All discovery and development efforts related to our pipeline programs are herein referred to as “ours,” although some of these preclinical efforts were completed at Janssen prior to the Janssen License. In many cases, these efforts were made by certain of the same personnel who have since joined Rapport. We were incorporated under the laws of the State of Delaware in February 2022 under the name Precision Neuroscience NewCo, Inc., and changed our name to Rapport Therapeutics, Inc. in October 2022. Our principal executive offices are located at 1325 Boylston Street, Suite 401, Boston, MA. We have one subsidiary, Rapport Therapeutics Securities Corporation, formed in December 2022 under the laws of the Commonwealth of Massachusetts. Rapport Therapeutics, Inc. (RAPP) is classified as a small-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Abraham N. Ceesay, headquartered in BOSTON, Massachusetts. With a market capitalization of $1.5B, RAPP is one of the notable companies in the Healthcare sector.

Rapport Therapeutics, Inc. (RAPP) Stock Rating — Hold (April 2026)

As of April 2026, Rapport Therapeutics, Inc. receives a Hold rating with a composite score of 35.1/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.RAPP ranks #1,597 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Rapport Therapeutics, Inc. ranks #142 of 838 stocks, placing it in the top quartile of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

RAPP Stock Price and 52-Week Range

Rapport Therapeutics, Inc. (RAPP) currently trades at $33.80. The stock lost $0.42 (1.2%) in the most recent trading session. The 52-week high for RAPP is $42.27, which means the stock is currently trading -20.0% from its annual peak. The 52-week low is $7.73, putting the stock 337.3% above its annual trough. Recent trading volume was 166K shares, suggesting relatively thin trading activity.

Is RAPP Overvalued or Undervalued? — Valuation Analysis

Rapport Therapeutics, Inc. (RAPP) carries a value factor score of 25/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 3.30x, versus the sector average of 2.75x.

At current multiples, Rapport Therapeutics, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Rapport Therapeutics, Inc. Profitability — ROE, Margins, and Quality Score

Rapport Therapeutics, Inc. (RAPP) earns a quality factor score of 28/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -19.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -18.6% versus the sector average of -33.1%.

Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

RAPP Debt, Balance Sheet, and Financial Health

Rapport Therapeutics, Inc. has a debt-to-equity ratio of 6.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 26.17x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $251M.

RAPP has a beta of 1.03, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for Rapport Therapeutics, Inc. is 30/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Rapport Therapeutics, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Rapport Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-2.86. Net income for the quarter was $-95M. Operating income came in at $-108M.

In FY 2025, Rapport Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-2.86. Net income for the quarter was $-111M. Operating income came in at $-125M.

In Q3 2025, Rapport Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.71. Net income for the quarter was $-27M. Operating income came in at $-30M.

In Q2 2025, Rapport Therapeutics, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.75. Net income for the quarter was $-27M. Operating income came in at $-29M.

Over the past 8 quarters, Rapport Therapeutics, Inc. has experienced revenue contraction from $0 to $0. Investors analyzing RAPP stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

RAPP Dividend Yield and Income Analysis

Rapport Therapeutics, Inc. (RAPP) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

RAPP Momentum and Technical Analysis Profile

Rapport Therapeutics, Inc. (RAPP) has a momentum factor score of 68/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 4/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

RAPP vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Rapport Therapeutics, Inc. (RAPP) ranks #142 out of 838 stocks based on the Blank Capital composite score. This places RAPP in the top quartile of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing RAPP against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full RAPP vs S&P 500 (SPY) comparison to assess how Rapport Therapeutics, Inc. stacks up against the broader market across all factor dimensions.

RAPP Next Earnings Date

No upcoming earnings date has been announced for Rapport Therapeutics, Inc. (RAPP) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy RAPP? — Investment Thesis Summary

Rapport Therapeutics, Inc. presents a balanced picture with arguments on both sides. The quality score of 28/100 flags below-average profitability. The value score of 25/100 indicates premium valuation. Price momentum is positive at 68/100, suggesting the trend favors buyers. High volatility (stability score 30/100) increases portfolio risk.

In summary, Rapport Therapeutics, Inc. (RAPP) earns a Hold rating with a composite score of 35.1/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on RAPP stock.

Related Resources for RAPP Investors

Explore more research and tools: RAPP vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare RAPP head-to-head with peers: RAPP vs AZN, RAPP vs SLGL, RAPP vs VMD.