David Bredt Sells 8,500 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total transaction of $246,670.00. Following the sale, the insider directly owned 387,075 shares in the company, valued at $11,232,916.50. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

David Bredt also recently made the following trade(s):

• On Thursday, January 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $26.84, for a total transaction of $228,140.00.
• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.05, for a total transaction of $197,338.35.
• On Monday, December 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.02, for a total transaction of $255,170.00.

Rapport Therapeutics Trading Down 0.8%

NASDAQ:RAPP opened at $29.76 on Friday. The stock has a 50 day moving average of $28.33 and a 200-day moving average of $25.47. The firm has a market capitalization of $1.42 billion, a PE ratio of -10.98 and a beta of 1.63. Rapport Therapeutics, Inc. has a 52 week low of $6.43 and a 52 week high of $42.27.

Institutional Trading of Rapport Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Affinity Asset Advisors LLC bought a new stake in Rapport Therapeutics during the second quarter worth approximately $2,270,000. TD Asset Management Inc increased its position in shares of Rapport Therapeutics by 20.9% during the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after purchasing an additional 34,052 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Rapport Therapeutics during the 3rd quarter valued at $331,000. AlphaCentric Advisors LLC bought a new stake in shares of Rapport Therapeutics in the 4th quarter worth $183,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $178,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RAPP shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. BTIG Research restated a “buy” rating and issued a $47.00 target price on shares of Rapport Therapeutics in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Thursday, January 22nd. Finally, Citizens Jmp boosted their price objective on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

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.