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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 404 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $49.90, for a total transaction of $20,159.60. Following the completion of the sale, the insider owned 246,022 shares in the company, valued at $12,276,497.80. This represents a 0.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rapport Therapeutics Trading Up 0.8%

NASDAQ:RAPP opened at $48.24 on Friday. Rapport Therapeutics, Inc. has a 12 month low of $14.11 and a 12 month high of $49.90. The company has a market cap of $2.31 billion, a PE ratio of -15.87 and a beta of 0.97. The company has a 50 day simple moving average of $42.11 and a two-hundred day simple moving average of $36.04.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Research analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.

Analyst Ratings Changes

RAPP has been the topic of a number of recent research reports. Truist Financial began coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. Leerink Partners initiated coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target for the company. William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Finally, HC Wainwright increased their price objective on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $62.86.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Rapport Therapeutics by 11.2% in the 2nd quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock worth $3,625,000 after purchasing an additional 8,757 shares during the period. Artia Global Partners LP purchased a new position in Rapport Therapeutics during the second quarter valued at $5,772,000. Bank of America Corp DE bought a new stake in Rapport Therapeutics during the second quarter valued at about $3,170,000. Jupiter Topco LLC bought a new stake in Rapport Therapeutics during the second quarter valued at about $574,000. Finally, ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics in the second quarter worth about $155,376,512,000.

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.