Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $202,275.58 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 5,018 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $40.31, for a total value of $202,275.58. Following the sale, the insider owned 6,432,715 shares of the company’s stock, valued at approximately $259,302,741.65. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Price Performance

Shares of RAPP traded up $0.39 during trading hours on Monday, hitting $38.43. The stock had a trading volume of 547,950 shares, compared to its average volume of 345,723. The firm has a 50 day simple moving average of $32.08 and a 200-day simple moving average of $29.36. The firm has a market capitalization of $1.84 billion, a P/E ratio of -14.78 and a beta of 0.82. Rapport Therapeutics, Inc. has a 1-year low of $7.73 and a 1-year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Equities analysts predict that Rapport Therapeutics, Inc. will post -3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RAPP has been the subject of several research reports. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. BTIG Research restated a “buy” rating and issued a $53.00 target price on shares of Rapport Therapeutics in a research note on Friday. Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company raised their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rapport Therapeutics has an average rating of “Buy” and a consensus target price of $54.83.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after purchasing an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rapport Therapeutics during the 1st quarter valued at about $2,039,000. Rhumbline Advisers boosted its stake in Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after purchasing an additional 4,109 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after purchasing an additional 17,496 shares during the last quarter. Finally, Creative Planning acquired a new position in Rapport Therapeutics during the 2nd quarter valued at about $121,000.

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.