Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Rock Ventures L.P. Third Sells 133,618 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 133,618 shares of Rapport Therapeutics stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $40.24, for a total value of $5,376,788.32. Following the completion of the transaction, the insider owned 6,299,097 shares in the company, valued at $253,475,663.28. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Trading Up 2.3%

Shares of RAPP stock opened at $38.08 on Thursday. The business’s 50 day moving average is $32.77 and its two-hundred day moving average is $29.70. Rapport Therapeutics, Inc. has a twelve month low of $7.73 and a twelve month high of $42.27. The company has a market capitalization of $1.82 billion, a P/E ratio of -14.65 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP) last announced its 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 company had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. As a group, equities analysts predict that Rapport Therapeutics, Inc. will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. Baker BROS. Advisors LP raised its holdings in Rapport Therapeutics by 181.2% during the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares during the last quarter. Vestal Point Capital LP acquired a new position in Rapport Therapeutics during the third quarter worth $28,215,000. Polar Capital Holdings Plc acquired a new position in shares of Rapport Therapeutics in the third quarter worth $27,887,000. Capital International Investors raised its holdings in shares of Rapport Therapeutics by 30.7% in the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after acquiring an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after acquiring an additional 648,378 shares during the last quarter.

Analyst Ratings Changes

Several analysts have recently commented on RAPP shares. Wells Fargo & Company raised their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. BTIG Research reissued a “buy” rating and issued a $53.00 price target on shares of Rapport Therapeutics in a report on Friday, May 8th. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $54.83.

Rapport Therapeutics Company Profile

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.