Kennedy Capital Management LLC acquired a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 178,737 shares of the company’s stock, valued at approximately $5,423,000.
Several other institutional investors have also modified their holdings of the business. Landscape Capital Management L.L.C. bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at about $200,000. Barclays PLC lifted its holdings in shares of Rapport Therapeutics by 96.5% during the 4th quarter. Barclays PLC now owns 52,480 shares of the company’s stock valued at $1,592,000 after purchasing an additional 25,767 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at about $207,000. Rafferty Asset Management LLC bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at about $237,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rapport Therapeutics by 20.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 244,391 shares of the company’s stock valued at $7,415,000 after purchasing an additional 41,942 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on RAPP shares. Truist Financial started coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. BTIG Research boosted their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.83.
Insider Activity at Rapport Therapeutics
In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. The trade was a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the transaction, the insider directly owned 246,426 shares in the company, valued at $9,854,575.74. This trade represents a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 895,158 shares of company stock worth $35,908,941 in the last 90 days. Company insiders own 12.48% of the company’s stock.
Rapport Therapeutics Stock Performance
NASDAQ RAPP opened at $38.26 on Tuesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -14.72 and a beta of 0.97. The stock’s 50 day moving average price is $36.49 and its two-hundred day moving average price is $31.42. Rapport Therapeutics, Inc. has a 52 week low of $10.51 and a 52 week high of $42.27.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. On average, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.08 EPS for the current year.
About Rapport Therapeutics
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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