Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $246,670.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the sale, the insider owned 387,075 shares of the company’s stock, valued at $11,232,916.50. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

David Bredt also recently made the following trade(s):

• On Thursday, January 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $26.84, for a total value of $228,140.00.
• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.05, for a total value of $197,338.35.
• On Monday, December 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.02, for a total value of $255,170.00.

Rapport Therapeutics Trading Down 0.8%

Shares of Rapport Therapeutics stock opened at $29.76 on Friday. The stock’s fifty day moving average price is $28.33 and its 200-day moving average price is $25.55. The firm has a market cap of $1.42 billion, a P/E ratio of -10.98 and a beta of 1.63. Rapport Therapeutics, Inc. has a 12 month low of $6.43 and a 12 month high of $42.27.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citizens Jmp boosted their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. HC Wainwright boosted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Wells Fargo & Company started coverage on Rapport Therapeutics in a report on Monday, February 2nd. They set an “overweight” rating and a $43.00 target price for the company. BTIG Research reiterated a “buy” rating and issued a $47.00 price target on shares of Rapport Therapeutics in a report on Monday, December 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.80.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics in the first quarter worth about $2,039,000. Rhumbline Advisers grew its stake in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after acquiring an additional 4,109 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Rapport Therapeutics by 20.9% during the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after acquiring an additional 34,052 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after acquiring an additional 17,496 shares in the last quarter.

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.