Y Intercept Hong Kong Ltd Invests $1.12 Million in Rapport Therapeutics, Inc. $RAPP

Y Intercept Hong Kong Ltd bought a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) in the first quarter, Holdings Channel.com reports. The fund bought 35,825 shares of the company’s stock, valued at approximately $1,121,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. bought a new position in Rapport Therapeutics in the 3rd quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 905 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after acquiring an additional 4,582 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $121,000.

Insiders Place Their Bets

In related news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the sale, the insider owned 246,426 shares of the company’s stock, valued at $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics 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 trade represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 894,298 shares of company stock valued at $35,878,887 over the last 90 days. 12.48% of the stock is currently owned by company insiders.

Rapport Therapeutics Stock Down 0.7%

RAPP stock traded down $0.30 during trading on Friday, hitting $41.75. 435,479 shares of the company’s stock traded hands, compared to its average volume of 424,052. The firm has a market capitalization of $2.00 billion, a P/E ratio of -16.06 and a beta of 0.94. Rapport Therapeutics, Inc. has a 1 year low of $13.43 and a 1 year high of $43.76. The business has a fifty day simple moving average of $38.00 and a two-hundred day simple moving average of $32.76.

Rapport Therapeutics (NASDAQ:RAPP) last posted 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 company had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. On average, equities research analysts predict that Rapport Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on RAPP. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. 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 target price for the company. Leerink Partners began coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Rapport Therapeutics 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.