Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells 5,018 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 5,018 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $40.31, for a total value of $202,275.58. Following the completion of the transaction, the insider owned 6,432,715 shares of the company’s stock, valued at $259,302,741.65. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Trading Up 1.0%

NASDAQ:RAPP traded up $0.39 during trading hours on Monday, hitting $38.43. 547,950 shares of the company were exchanged, compared to its average volume of 345,723. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -14.78 and a beta of 0.82. Rapport Therapeutics, Inc. has a one year low of $7.73 and a one year high of $42.27. The company has a fifty day simple moving average of $32.08 and a 200 day simple moving average of $29.36.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. Equities research analysts predict that Rapport Therapeutics, Inc. will post -3.06 earnings per share for the current fiscal year.

Institutional Trading of Rapport Therapeutics

A number of large investors have recently bought and sold shares of RAPP. KBC Group NV acquired a new stake in Rapport Therapeutics during the 1st quarter worth about $30,000. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics during the 4th quarter worth about $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the 3rd quarter worth about $43,000. Strs Ohio grew its holdings in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapport Therapeutics by 64.1% during 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 during the period.

Analysts Set New Price Targets

Several research analysts recently issued reports on RAPP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wells Fargo & Company raised their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $54.83.

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.