Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $5,376,788.32 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 133,618 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the transaction, the insider owned 6,299,097 shares in the company, valued at approximately $253,475,663.28. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Stock Performance

RAPP traded up $0.84 during trading on Wednesday, reaching $38.08. 302,379 shares of the stock were exchanged, compared to its average volume of 402,196. The stock has a market cap of $1.82 billion, a P/E ratio of -14.65 and a beta of 0.82. Rapport Therapeutics, Inc. has a twelve month low of $7.73 and a twelve month high of $42.27. The stock’s 50 day moving average price is $32.77 and its two-hundred day moving average price is $29.70.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. Equities research analysts predict that Rapport Therapeutics, Inc. will post -3.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on RAPP. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. BTIG Research reiterated a “buy” rating and issued a $53.00 price objective on shares of Rapport Therapeutics in a report on Friday, May 8th. Wells Fargo & Company upped their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Finally, Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $54.83.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. Strs Ohio increased its stake in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares in the last quarter. AlphaCentric Advisors LLC increased its stake in Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after purchasing an additional 408 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock valued at $69,000 after purchasing an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $70,000 after purchasing an additional 905 shares in the last quarter. Finally, KBC Group NV bought a new stake in Rapport Therapeutics during the 1st quarter valued at $30,000.

About Rapport Therapeutics

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.