Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $202,275.58 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPPGet Free Report) major shareholder Rock Ventures L.P. Third sold 5,018 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $40.31, for a total transaction of $202,275.58. Following the sale, the insider directly owned 6,432,715 shares in the company, valued at approximately $259,302,741.65. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Price Performance

RAPP stock opened at $38.08 on Thursday. The firm’s fifty day simple moving average is $32.77 and its 200-day simple moving average is $29.70. The company has a market capitalization of $1.82 billion, a P/E ratio of -14.65 and a beta of 0.82. Rapport Therapeutics, Inc. has a 12 month low of $7.73 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. As a group, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Capital International Investors boosted its stake in shares of Rapport Therapeutics by 30.7% in the third 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 period. Maven Securities LTD purchased a new position in shares of Rapport Therapeutics in the third quarter valued at approximately $594,000. Baker BROS. Advisors LP boosted its stake in shares of Rapport Therapeutics by 181.2% in the third 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 period. Swedbank AB purchased a new position in shares of Rapport Therapeutics in the fourth quarter valued at approximately $3,434,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Rapport Therapeutics by 45.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,766 shares of the company’s stock valued at $327,000 after purchasing an additional 3,368 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $53.00 target price on shares of Rapport Therapeutics in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price for the company. Wells Fargo & Company increased their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Finally, Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $54.83.

Get Our Latest Stock Analysis on Rapport Therapeutics

About Rapport Therapeutics

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Rapport Therapeutics (NASDAQ:RAPP)

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