Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $197,338.35 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 6,567 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total transaction of $197,338.35. Following the sale, the insider owned 404,075 shares in the company, valued at $12,142,453.75. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

David Bredt also recently made the following trade(s):

• On Monday, December 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.02, for a total transaction of $255,170.00.
• On Monday, November 17th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.19, for a total transaction of $214,115.00.
• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.79, for a total transaction of $219,215.00.

Rapport Therapeutics Stock Up 8.9%

Shares of RAPP stock opened at $30.12 on Thursday. Rapport Therapeutics, Inc. has a 52 week low of $6.43 and a 52 week high of $42.27. The firm has a 50 day moving average of $28.28 and a two-hundred day moving average of $22.48. The stock has a market capitalization of $1.44 billion, a PE ratio of -11.11 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.06. Analysts expect that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its holdings in shares of Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after buying an additional 400 shares in the last quarter. Creative Planning boosted its stake in Rapport Therapeutics by 12.8% in the third quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after acquiring an additional 1,357 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics in the third quarter valued at $43,000. Two Sigma Investments LP grew its holdings in shares of Rapport Therapeutics by 8.9% during the third quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock worth $639,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Acuta Capital Partners LLC grew its holdings in shares of Rapport Therapeutics by 22.0% during the second quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock worth $227,000 after purchasing an additional 3,600 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RAPP shares. The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Wells Fargo & Company set a $51.00 price target on shares of Rapport Therapeutics in a research note on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating and issued a $47.00 price objective on shares of Rapport Therapeutics in a report on Monday, December 8th. Finally, Citizens Jmp lifted their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.33.

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.