Renaissance Technologies LLC cut its stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP – Free Report) by 91.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,700 shares of the company’s stock after selling 109,114 shares during the period. Renaissance Technologies LLC’s holdings in Rapport Therapeutics were worth $304,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in RAPP. Sei Investments Co. raised its position in Rapport Therapeutics by 68.7% during the first quarter. Sei Investments Co. now owns 30,819 shares of the company’s stock valued at $964,000 after purchasing an additional 12,551 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Rapport Therapeutics in the 1st quarter worth about $349,000. Dimensional Fund Advisors LP boosted its holdings in shares of Rapport Therapeutics by 168.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock worth $7,025,000 after purchasing an additional 141,011 shares in the last quarter. AlphaCentric Advisors LLC increased its position in shares of Rapport Therapeutics by 6.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after purchasing an additional 408 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Rapport Therapeutics during the 1st quarter valued at about $30,000.
Insider Buying and Selling
In other news, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at approximately $23,338,045.08. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the firm’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 completion of the transaction, the insider owned 6,280,525 shares in the company, valued at $251,535,026.25. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 72,281 shares of company stock valued at $3,269,892. Insiders own 12.48% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on RAPP
Rapport Therapeutics Trading Up 1.2%
RAPP opened at $49.01 on Wednesday. Rapport Therapeutics, Inc. has a 12 month low of $13.86 and a 12 month high of $49.50. The business’s 50-day moving average price is $41.39 and its 200-day moving average price is $35.65. The company has a market cap of $2.35 billion, a P/E ratio of -16.12 and a beta of 0.97.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Equities research analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal 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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