Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $743,808.60 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction 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. The trade was a 0.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Stock Performance

Rapport Therapeutics stock opened at $39.50 on Friday. The company’s 50 day simple moving average is $34.86 and its 200-day simple moving average is $30.58. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.19 and a beta of 0.82. Rapport Therapeutics, Inc. has a 1 year low of $7.73 and a 1 year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) 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 analysts’ expectations of $7.50 million. Equities analysts expect that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

Large investors have recently modified their holdings of the company. KBC Group NV purchased a new stake in shares of Rapport Therapeutics in the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics in the 4th quarter valued at approximately $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $43,000. Strs Ohio increased its position in shares of Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after purchasing an additional 905 shares during the last quarter.

Analyst Upgrades and Downgrades

RAPP has been the topic of several recent research reports. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They set a “buy” rating and a $56.00 target price on the stock. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 11th. BTIG Research upped their target price on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.83.

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.