Rock Ventures L.P. Third Sells 18,572 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares in the company, valued at $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Price Performance

Shares of RAPP opened at $39.50 on Friday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.19 and a beta of 0.82. Rapport Therapeutics, Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The business’s 50-day moving average is $34.86 and its 200-day moving average is $30.58.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Equities research analysts expect that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of RAPP. Baker BROS. Advisors LP boosted its position in shares of Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after acquiring an additional 997,000 shares during the period. Vestal Point Capital LP bought a new stake in shares of Rapport Therapeutics in the third quarter valued at approximately $28,215,000. Polar Capital Holdings Plc bought a new stake in shares of Rapport Therapeutics in the third quarter valued at approximately $27,887,000. Capital International Investors boosted its position in shares of Rapport Therapeutics by 30.7% in the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after acquiring an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after acquiring an additional 648,378 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, March 11th. BTIG Research increased their price objective on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Raymond James Financial assumed coverage on Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.83.

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.