Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $17,176,521.60 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 426,005 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total value of $17,176,521.60. Following the sale, the insider owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This represents a 5.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Trading Down 0.5%

Shares of Rapport Therapeutics stock traded down $0.19 during trading hours on Tuesday, reaching $36.95. 428,604 shares of the stock traded hands, compared to its average volume of 331,850. The company has a 50 day moving average price of $30.52 and a 200 day moving average price of $28.63. Rapport Therapeutics, Inc. has a one year low of $7.73 and a one year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). Analysts predict that Rapport Therapeutics, Inc. will post -3.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $99,000 after buying an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Rapport Therapeutics during the 1st quarter valued at about $2,039,000. Rhumbline Advisers lifted its position in shares of 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 buying an additional 4,109 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $3,789,000 after buying an additional 17,496 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $121,000.

Analysts Set New Price Targets

A number of research firms have issued reports on RAPP. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Truist Financial upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Finally, TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $53.83.

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.