Rapport Therapeutics is a clinical-stage biotech with strong analyst conviction at a price target implying 49% upside and a 3-for-4 earnings beat streak averaging 9.9% positive surprise, but the company burns cash at -247% of revenue, carries a quality score of 1.9 out of 10, and an extremely elevated put/call ratio of 4.36 signals heavy bearish options activity.
Thesis pillars
- High Analyst Conviction Upside↑Improving
- Extreme Put Call Ratio↓Deteriorating
- Cash Burn Quality Floor Breach↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Mar 10, 2026· older than 90 days
Rapport Therapeutics, Inc. (RAPP) Stock Analysis
Recovery setup · Inst Constrain edge
Healthcare · Biotechnology
Sell if holding. Engine safety override at $25.93: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 8.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 10%; Elevated put/call ratio: 58.35; Below-average business quality.
Rapport Therapeutics is a clinical-stage biotech developing precision neuroscience medicines using its RAP technology platform, which targets receptor-associated proteins to achieve neuroanatomical specificity. Its lead candidate, RAP-219, an AMPA receptor modulator in-licensed... Read more
Sell if holding. Engine safety override at $25.93: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 8.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 10%; Elevated put/call ratio: 58.35; Below-average business quality. Chart setup: Death cross but MACD improving, RSI 42. Score 5.3/10, moderate confidence.
Passes 8/10 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity no date, semi cycle peak clear, materials cycle peak clear). Suitability: speculative.
About Rapport Therapeutics, Inc.
About Rapport Therapeutics, Inc.
Rapport Therapeutics' lead candidate, RAP-219, met its primary and secondary endpoints in a Phase 2a proof-of-concept trial reported in September 2025, showing a statistically significant reduction in both an objective seizure biomarker and clinical seizures in adults with drug-resistant focal onset seizures. Following supportive FDA feedback from an end-of-Phase-2 meeting in December 2025, the company expects to begin two Phase 3 trials of RAP-219 in the second quarter of 2026, targeting a $2.8 billion epilepsy market that is expected to grow to $3.6 billion by 2028.
Rapport has no approved products and generates no revenue; nearly all of its pipeline, including RAP-219 and its nicotinic acetylcholine receptor programs, was originally developed at Janssen Pharmaceutical and in-licensed under an August 2022 agreement that obligates Rapport to pay Janssen up to $76.0 million in development milestones and up to $40.0 million in sales milestones for RAP-219 products. Beyond RAP-219's focal-onset-seizure indication, the company is testing the same molecule in a Phase 2 proof-of-concept trial for bipolar mania, with topline data expected in the first half of 2027, and is developing a long-acting injectable formulation intended to improve adherence across all RAP-219 indications. Two earlier-stage discovery programs, RAP-641 for chronic pain and migraine and a program targeting the α9α10 receptor for hearing and vestibular disorders, round out the pipeline built on Rapport's receptor-associated-protein platform. Rapport reported net losses of $111.5 million in 2025 and $78.3 million in 2024.
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Rapport's own risk factors state that its business is highly dependent on the success of its product candidates, particularly RAP-219 for focal onset seizures — a concentration sharpened by the fact that RAP-219 also carries the company's bipolar mania and planned PGTCS programs on the same molecule. A setback in the upcoming Phase 3 FOS trials, expected to start in the second quarter of 2026, would therefore not be contained to one indication: it would simultaneously cloud the bipolar mania readout expected in the first half of 2027 and the planned PGTCS Phase 3 start in the first half of 2027, since all three rely on the same TARP8-targeting mechanism.
See also: Healthcare · Biotechnology
From Rapport Therapeutics, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated Nov 4, 2026Recent Developments — Rapport Therapeutics, Inc.
Latest news
- NEWS Rapport Therapeutics Reports Third Quarter 2026 Financial Results and Business Update — fiscal.ai Nov 4, 2026
- NEWS Rapport Therapeutics Q3 EPS $(0.84) Beats $(1.19) Estimate — benzinga Nov 4, 2026 positive
- NEWS Rapport Therapeutics Announces Participation in Upcoming Investor Conferences — fiscal.ai Nov 3, 2026 neutral
- NEWS Rapport Therapeutics Closes Underwritten Public Offerings Of 9,761,905 Shares At $21.00 Per Share — benzinga Nov 2, 2026 negative
- NEWS Rapport Therapeutics, Inc. 12-Month Price Target Adjusted — fiscal.ai Nov 2, 2026 neutral
Latest item Nov 4, 2026 · Generated 2026-11-05T11:54:13Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHpipelineRAP-21910-K Item 1A: 'Our business is highly dependent on the success of our product candidates, particularly RAP-219 for FOS.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers·1 ceiling hit
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $25.93: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10 and A.R:R 8.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 10%; Elevated put/call ratio: 58.35; Below-average business quality. Chart setup: Death cross but MACD improving, RSI 42. Prior stop was $24.11. Score 5.3/10, moderate confidence.
Analyst target: $59.41 (+129.1% upside). Prior stop was $24.11. Stop-loss: $24.11.
Concentration risk — Pipeline: RAP-219; Quality below floor (2.0 < 4.0); Value-trap signals (2/5): Revenue declining (-22.6% YoY), Negative free cash flow.
Rapport Therapeutics, Inc. trades at a P/E of N/A (forward -5.1). TrendMatrix value score: 9.0/10. Verdict: Sell.
22 analysts rate RAPP, with a consensus score of 4.4/5. 14 analysts publish price targets averaging $68.
What does Rapport Therapeutics, Inc. do?Rapport Therapeutics is a clinical-stage biotech developing precision neuroscience medicines using its RAP technology...
Rapport Therapeutics is a clinical-stage biotech developing precision neuroscience medicines using its RAP technology platform, which targets receptor-associated proteins to achieve neuroanatomical specificity. Its lead candidate, RAP-219, an AMPA receptor modulator in-licensed from Janssen, showed statistically significant seizure reduction in a Phase 2a trial for drug-resistant focal onset seizures reported in September 2025, with Phase 3 trials expected to begin in the second quarter of 2026.