PSP Research LLC acquired a new position in Rapport Therapeutics, Inc. (NASDAQ:RAPP – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,506 shares of the company’s stock, valued at approximately $531,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital International Investors raised its position 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 worth $101,055,000 after buying an additional 800,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Rapport Therapeutics by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after buying an additional 191,219 shares in the last quarter. Baker BROS. Advisors LP raised its position 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 worth $45,949,000 after buying an additional 997,000 shares in the last quarter. Alliancebernstein L.P. raised its position in Rapport Therapeutics by 4.1% during the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after purchasing an additional 45,063 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in Rapport Therapeutics during the third quarter valued at about $28,215,000.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on RAPP. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Wells Fargo & Company lifted their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Finally, Truist Financial initiated coverage on shares of Rapport Therapeutics in a report on Monday. They set a “buy” rating and a $56.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.83.
Insider Buying and Selling
In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider directly owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 133,618 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the transaction, the insider directly owned 6,299,097 shares in the company, valued at approximately $253,475,663.28. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 878,600 shares of company stock valued at $35,223,398 in the last ninety days. 13.57% of the stock is owned by company insiders.
Rapport Therapeutics Stock Performance
Shares of Rapport Therapeutics stock opened at $34.37 on Wednesday. The company has a fifty day moving average of $33.32 and a 200 day moving average of $29.95. Rapport Therapeutics, Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The company has a market capitalization of $1.64 billion, a P/E ratio of -13.22 and a beta of 0.82.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. Analysts forecast that Rapport Therapeutics, Inc. will post -3.18 EPS for the current year.
Rapport Therapeutics 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.
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