Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $10,892,379.40 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPPGet Free Report) major shareholder Rock Ventures L.P. Third sold 271,495 shares of Rapport Therapeutics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares in the company, valued at approximately $258,281,847.96. The trade was a 4.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Stock Up 2.3%

NASDAQ RAPP opened at $38.08 on Thursday. The company has a 50-day simple moving average of $32.77 and a two-hundred day simple moving average of $29.70. Rapport Therapeutics, Inc. has a 12-month low of $7.73 and a 12-month high of $42.27. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -14.65 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate 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 -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

A number of large investors have recently made changes to their positions in the business. KBC Group NV bought a new position in shares of Rapport Therapeutics during the first quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics in the third quarter valued at $43,000. Strs Ohio increased its position in Rapport Therapeutics by 23.5% during 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 period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Rapport Therapeutics by 64.1% during 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 period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RAPP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. BTIG Research reissued a “buy” rating and set a $53.00 price target on shares of Rapport Therapeutics in a research report on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a 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 given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $54.83.

View Our Latest Report 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.

Recommended Stories

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

Receive News & Ratings for Rapport Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapport Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.