Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells 18,572 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company’s stock, 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 SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Stock Down 0.1%

Shares of RAPP stock traded down $0.02 during mid-day trading on Thursday, reaching $39.49. The stock had a trading volume of 187,740 shares, compared to its average volume of 337,080. The firm’s 50 day simple moving average is $34.36 and its 200 day simple moving average is $30.42. Rapport Therapeutics, Inc. has a one year low of $7.73 and a one year high of $42.27. The firm has a market cap of $1.89 billion, a PE ratio of -15.19 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. Sell-side analysts forecast that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

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

Analyst Ratings Changes

A number of analysts have commented on RAPP shares. Wells Fargo & Company raised their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. BTIG Research raised their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial started coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.83.

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.