Eversept Partners LP Sells 84,332 Shares of Rapport Therapeutics, Inc. $RAPP

Eversept Partners LP decreased its position in Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 58.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 59,233 shares of the company’s stock after selling 84,332 shares during the period. Eversept Partners LP owned about 0.12% of Rapport Therapeutics worth $1,797,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Rapport Therapeutics by 56.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after purchasing an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics in the fourth quarter worth approximately $37,000. Creative Planning boosted its holdings in Rapport Therapeutics by 12.8% in the third quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after acquiring an additional 1,357 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Rapport Therapeutics by 8.9% in the third quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock valued at $639,000 after acquiring an additional 1,757 shares in the last quarter.

Rapport Therapeutics Trading Down 4.2%

Shares of RAPP stock opened at $36.87 on Thursday. Rapport Therapeutics, Inc. has a 12 month low of $10.51 and a 12 month high of $42.27. The stock has a market cap of $1.76 billion, a PE ratio of -14.18 and a beta of 0.97. The company’s fifty day moving average price is $36.68 and its 200-day moving average price is $31.54.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. On average, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RAPP has been the topic of several recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. BTIG Research lifted their price target on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. Finally, Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics has an average rating of “Moderate Buy” and an average target price of $58.83.

Insider Activity

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the transaction, the insider owned 246,426 shares of the company’s stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of Rapport Therapeutics stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This represents a 5.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by insiders.

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.