Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $20,159.60 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 404 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $49.90, for a total value of $20,159.60. Following the completion of the transaction, the insider owned 246,022 shares in the company, valued at $12,276,497.80. This trade represents a 0.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rapport Therapeutics Trading Up 0.8%

Rapport Therapeutics stock opened at $48.24 on Friday. Rapport Therapeutics, Inc. has a twelve month low of $14.11 and a twelve month high of $49.90. The stock has a 50 day moving average of $42.11 and a two-hundred day moving average of $36.04. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -15.87 and a beta of 0.97.

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

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors have recently made changes to their positions in RAPP. TRV GP V LLC purchased a new position in shares of Rapport Therapeutics in the 2nd quarter valued at about $261,709,477,000. ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics during the second quarter worth about $155,376,512,000. BlackRock Inc. purchased a new stake in Rapport Therapeutics during the second quarter worth about $112,500,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the second quarter worth about $74,360,823,000. Finally, TRV GP VI LLC acquired a new position in Rapport Therapeutics during the second quarter worth about $40,387,314,000.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial began coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. UBS Group restated a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. HC Wainwright lifted their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. BTIG Research reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday. Finally, Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $62.86.

Rapport Therapeutics Company 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.