Johnson & Johnson Makes New Investment in Rapport Therapeutics, Inc. $RAPP

Johnson & Johnson bought a new stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP) during the second quarter, HoldingsChannel reports. The firm bought 1,784,517 shares of the company’s stock, valued at approximately $74,360,823,000. Rapport Therapeutics accounts for approximately 9.3% of Johnson & Johnson’s investment portfolio, making the stock its 4th largest position.

Other large investors have also modified their holdings of the company. AlphaCentric Advisors LLC increased its holdings in Rapport Therapeutics by 6.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after buying an additional 408 shares during the last quarter. Russell Investments Group Ltd. lifted 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 worth $69,000 after buying an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 worth $70,000 after acquiring an additional 905 shares in the last quarter. KBC Group NV acquired a new position in Rapport Therapeutics in the first quarter worth $30,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the 4th quarter valued at about $37,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. BTIG Research reissued a “buy” rating and issued a $65.00 price target on shares of Rapport Therapeutics in a report on Wednesday, August 5th. Truist Financial started coverage on Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Rapport Therapeutics Trading Up 0.1%

Shares of NASDAQ:RAPP opened at $47.42 on Friday. The firm’s 50 day moving average is $40.89 and its two-hundred day moving average is $35.28. The firm has a market capitalization of $2.28 billion, a P/E ratio of -15.60 and a beta of 0.97. Rapport Therapeutics, Inc. has a 52 week low of $13.86 and a 52 week high of $49.50.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Analysts predict that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. The trade was a 0.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the transaction, the chief executive officer owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This trade represents a 5.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,281 shares of company stock worth $3,269,892 in the last ninety days. 12.48% of the stock is owned by company insiders.

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.