Krishnaswamy Yeleswaram Sells 2,840 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total transaction of $85,342.00. Following the transaction, the insider directly owned 296,991 shares in the company, valued at approximately $8,924,579.55. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Rapport Therapeutics Trading Down 2.1%

Shares of NASDAQ:RAPP traded down $0.59 on Monday, reaching $27.52. 245,586 shares of the company’s stock were exchanged, compared to its average volume of 357,843. Rapport Therapeutics, Inc. has a twelve month low of $6.43 and a twelve month high of $42.27. The company has a fifty day moving average of $28.24 and a 200-day moving average of $22.20. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -10.15 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.06. As a group, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RAPP shares. Citizens Jmp lifted their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $47.00 price target on shares of Rapport Therapeutics in a report on Monday, December 8th. Wells Fargo & Company set a $51.00 price objective on Rapport Therapeutics in a research note on Friday, December 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at $2,270,000. Nuveen LLC acquired a new stake in Rapport Therapeutics in the first quarter valued at $219,000. TD Asset Management Inc raised its position in Rapport Therapeutics by 20.9% during the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 34,052 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after buying an additional 3,653 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Rapport Therapeutics by 90.2% in the 1st quarter. MetLife Investment Management LLC now owns 10,863 shares of the company’s stock valued at $109,000 after buying an additional 5,153 shares during the last quarter.

About Rapport Therapeutics

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.