Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Rock Ventures L.P. Third Sells 18,572 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPPGet Free Report) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $39.49 on Friday. Rapport Therapeutics, Inc. has a 52-week low of $7.73 and a 52-week high of $42.27. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -15.19 and a beta of 0.82. The firm has a fifty day moving average of $34.60 and a 200-day moving average of $30.51.

Rapport Therapeutics (NASDAQ:RAPPGet Free Report) last announced its quarterly earnings data 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 business had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. On average, sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in RAPP. Baker BROS. Advisors LP grew its holdings in shares of Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after purchasing an additional 997,000 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Rapport Therapeutics in the 3rd quarter worth about $28,215,000. Polar Capital Holdings Plc bought a new stake in shares of Rapport Therapeutics in the 3rd quarter worth about $27,887,000. Capital International Investors grew its holdings in shares of Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after purchasing an additional 648,378 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RAPP shares. Wells Fargo & Company increased their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company. One equities research 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. According to data from MarketBeat.com, Rapport Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $58.83.

View Our Latest Analysis on RAPP

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.

Further Reading

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

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