Rapport Therapeutics (NASDAQ:RAPP) Insider Krishnaswamy Yeleswaram Sells 404 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 404 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $49.90, for a total transaction of $20,159.60. Following the completion of the sale, the insider directly owned 246,022 shares in the company, valued at $12,276,497.80. This trade represents a 0.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rapport Therapeutics Price Performance

Shares of RAPP opened at $47.85 on Friday. Rapport Therapeutics, Inc. has a 1-year low of $13.90 and a 1-year high of $49.90. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -15.74 and a beta of 0.97. The firm has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $35.96.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, equities analysts expect that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RAPP has been the subject of a number of recent research reports. Raymond James Financial reiterated a “strong-buy” rating and set a $75.00 price target on shares of Rapport Therapeutics in a report on Monday. Wall Street Zen cut Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright lifted their price target on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Truist Financial began coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 target price for the company. Finally, UBS Group reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rapport Therapeutics currently has an average rating of “Buy” and an average target price of $62.86.

Institutional Trading of Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Rapport Therapeutics by 11.2% during the 2nd quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock valued at $3,625,000 after purchasing an additional 8,757 shares during the period. Artia Global Partners LP acquired a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $5,772,000. Bank of America Corp DE acquired a new stake in Rapport Therapeutics in the 2nd quarter valued at about $3,170,000. Jupiter Topco LLC acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $574,000. Finally, ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $155,376,512,000.

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.