Rapport Therapeutics, Inc. (NASDAQ:RAPP) Short Interest Up 20.7% in December

Rapport Therapeutics, Inc. (NASDAQ:RAPP) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 2,692,137 shares, a growth of 20.7% from the December 15th total of 2,230,607 shares. Currently, 6.5% of the shares of the stock are short sold. Based on an average trading volume of 469,814 shares, the short-interest ratio is presently 5.7 days. Based on an average trading volume of 469,814 shares, the short-interest ratio is presently 5.7 days. Currently, 6.5% of the shares of the stock are short sold.

Rapport Therapeutics Price Performance

NASDAQ RAPP traded down $0.05 on Monday, reaching $26.81. The company had a trading volume of 215,771 shares, compared to its average volume of 389,105. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -9.89 and a beta of 1.63. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The business has a 50 day moving average of $28.40 and a two-hundred day moving average of $23.34.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.06. As a group, research analysts predict that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Abraham Ceesay sold 5,083 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $29.63, for a total transaction of $150,609.29. Following the sale, the chief executive officer owned 30,895 shares in the company, valued at approximately $915,418.85. This trade represents a 14.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Krishnaswamy Yeleswaram sold 2,840 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total value of $85,342.00. Following the sale, the insider owned 296,991 shares of the company’s stock, valued at $8,924,579.55. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 56,739 shares of company stock worth $1,578,630. 13.57% of the stock is currently owned by company insiders.

Institutional Trading of Rapport Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RAPP. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics in the 3rd quarter worth approximately $43,000. Strs Ohio raised its stake in Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the last quarter. Creative Planning acquired a new position in Rapport Therapeutics in the second quarter valued at $121,000. Finally, Kennedy Capital Management LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $128,000.

Analyst Upgrades and Downgrades

RAPP has been the subject of several research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Wells Fargo & Company set a $51.00 price target on Rapport Therapeutics in a research note on Friday, December 19th. Finally, HC Wainwright boosted their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Rapport Therapeutics has an average rating of “Moderate Buy” and an average target price of $48.33.

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.