Candriam S.C.A. Purchases Shares of 185,925 Rapport Therapeutics, Inc. $RAPP

Candriam S.C.A. bought a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 185,925 shares of the company’s stock, valued at approximately $5,818,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after buying an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at about $37,000. Creative Planning grew its position in shares of Rapport Therapeutics by 12.8% during the third quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Rapport Therapeutics by 8.9% in the third quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock worth $639,000 after purchasing an additional 1,757 shares during the last quarter.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of Rapport Therapeutics stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the sale, the insider owned 6,709,228 shares in the company, valued at $270,516,072.96. This trade represents a 5.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares in the company, valued at $9,854,575.74. This represents a 7.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 874,933 shares of company stock worth $35,200,571 in the last ninety days. 12.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial began coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. Leerink Partners initiated coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BTIG Research increased their price target on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Price Performance

Rapport Therapeutics stock opened at $40.59 on Tuesday. The firm has a market capitalization of $1.94 billion, a P/E ratio of -15.61 and a beta of 0.94. Rapport Therapeutics, Inc. has a 1-year low of $13.43 and a 1-year high of $43.76. The company’s 50-day moving average is $38.15 and its 200 day moving average is $32.83.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. Research analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Rapport Therapeutics 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.