Goldman Sachs Group Inc. Increases Stake in Rapport Therapeutics, Inc. $RAPP

Goldman Sachs Group Inc. raised its holdings in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,001,879 shares of the company’s stock after buying an additional 579,903 shares during the period. Goldman Sachs Group Inc. owned about 0.06% of Rapport Therapeutics worth $91,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in Rapport Therapeutics during the fourth quarter valued at approximately $244,000. Geode Capital Management LLC increased its holdings in Rapport Therapeutics by 30.2% during the fourth quarter. Geode Capital Management LLC now owns 694,734 shares of the company’s stock valued at $21,081,000 after buying an additional 161,331 shares during the last quarter. Swedbank AB purchased a new stake in Rapport Therapeutics during the fourth quarter valued at approximately $3,434,000. PSP Research LLC purchased a new stake in Rapport Therapeutics during the fourth quarter valued at approximately $531,000. Finally, ProShare Advisors LLC purchased a new stake in Rapport Therapeutics during the fourth quarter valued at approximately $222,000.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. This represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. This represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by company insiders.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP opened at $35.84 on Wednesday. The firm has a fifty day moving average price of $36.03 and a 200 day moving average price of $31.17. Rapport Therapeutics, Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $42.27. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -13.78 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. As a group, research analysts predict that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on RAPP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company increased their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 11th. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Finally, Raymond James Financial began 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 research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

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.