Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Rock Ventures L.P. Third Sells 133,618 Shares

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

Rapport Therapeutics Price Performance

RAPP traded up $0.84 during trading on Wednesday, reaching $38.08. The company had a trading volume of 302,379 shares, compared to its average volume of 402,196. Rapport Therapeutics, Inc. has a 12 month low of $7.73 and a 12 month high of $42.27. The business’s fifty day moving average price is $32.77 and its 200 day moving average price is $29.70. The company has a market cap of $1.82 billion, a P/E ratio of -14.65 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly 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 company had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Finally, Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective on the stock. 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’s stock. Based on data from MarketBeat.com, Rapport Therapeutics presently has an average rating of “Buy” and a consensus target price of $54.83.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in RAPP. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the first quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics in the fourth quarter worth $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics in the third quarter worth $43,000. Strs Ohio lifted its position in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after buying an additional 905 shares during the last quarter.

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.