Swedbank AB Invests $3.43 Million in Rapport Therapeutics, Inc. $RAPP

Swedbank AB purchased a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) in the 4th quarter, Holdings Channel reports. The firm purchased 113,200 shares of the company’s stock, valued at approximately $3,434,000.

Several other hedge funds also recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $99,000 after acquiring an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Rapport Therapeutics during the 1st quarter worth approximately $2,039,000. Rhumbline Advisers grew its stake in shares of Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after acquiring an additional 4,109 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after acquiring an additional 17,496 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $121,000.

Analyst Upgrades and Downgrades

RAPP has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. BTIG Research raised their price target on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.83.

Insider Buying and Selling

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business’s stock in a transaction on 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 transaction, the insider directly owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Cheryl Gault sold 2,014 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $28.93, for a total transaction of $58,265.02. Following the transaction, the chief operating officer owned 169,914 shares in the company, valued at approximately $4,915,612.02. The trade was a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 878,600 shares of company stock worth $35,223,398. Insiders own 13.57% of the company’s stock.

Rapport Therapeutics Trading Down 0.5%

Shares of RAPP opened at $39.51 on Thursday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -15.20 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. The company’s fifty day simple moving average is $34.36 and its 200 day simple moving average is $30.42.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. As a group, research analysts forecast that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current 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.