Profund Advisors LLC lifted its holdings in Rapport Therapeutics, Inc. (NASDAQ:RAPP – Free Report) by 420.8% during the 3rd quarter, Holdings Channel reports. The fund owned 33,112 shares of the company’s stock after acquiring an additional 26,754 shares during the quarter. Profund Advisors LLC’s holdings in Rapport Therapeutics were worth $1,113,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its holdings in Rapport Therapeutics by 40.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 15,154 shares of the company’s stock valued at $500,000 after purchasing an additional 4,342 shares in the last quarter. Sigma Planning Corp acquired a new position in Rapport Therapeutics in the third quarter worth $1,008,000. Sterling Capital Management LLC boosted its stake in Rapport Therapeutics by 597.9% in the third quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock worth $33,000 after purchasing an additional 843 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Rapport Therapeutics during the second quarter worth $888,000. Finally, Wellington Management Group LLP grew its holdings in shares of Rapport Therapeutics by 11.2% during the second 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 last quarter.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RAPP shares. Guggenheim raised their target price on Rapport Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. BTIG Research upped their price target on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. William Blair initiated coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They set an “outperform” rating on the stock. JonesTrading increased their price objective on shares of Rapport Therapeutics from $50.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $86.00 price objective on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $68.36.
Get Our Latest Stock Report on Rapport Therapeutics
Insider Buying and Selling
In other news, Director Paul M. Silva bought 3,680 shares of the company’s stock in a transaction dated Thursday, October 22nd. The stock was bought at an average price of $27.07 per share, for a total transaction of $99,617.60. Following the completion of the transaction, the director directly owned 3,680 shares in the company, valued at $99,617.60. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wendy Young bought 3,789 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were purchased at an average price of $26.39 per share, with a total value of $99,991.71. Following the transaction, the director owned 13,289 shares of the company’s stock, valued at $350,696.71. The trade was a 39.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 1,031,174 shares of company stock worth $22,023,898 and sold 97,976 shares worth $4,391,729. Corporate insiders own 12.48% of the company’s stock.
Rapport Therapeutics Stock Performance
RAPP stock opened at $25.44 on Wednesday. The company has a 50 day moving average price of $35.76 and a 200 day moving average price of $35.55. Rapport Therapeutics, Inc. has a fifty-two week low of $22.06 and a fifty-two week high of $52.93.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, equities analysts predict that Rapport Therapeutics, Inc. will post -4.08 EPS for the current year.
Rapport Therapeutics Profile
Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.
Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.
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