Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells $5,376,788.32 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 133,618 shares of Rapport Therapeutics stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $40.24, for a total transaction of $5,376,788.32. Following the transaction, the insider directly owned 6,299,097 shares of the company’s stock, valued at $253,475,663.28. This represents a 2.08% 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 link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Rapport Therapeutics Trading Down 2.3%

Shares of NASDAQ RAPP opened at $37.07 on Friday. Rapport Therapeutics, Inc. has a 1-year low of $7.73 and a 1-year high of $42.27. The company has a market cap of $1.77 billion, a PE ratio of -14.26 and a beta of 0.82. The company has a 50-day moving average of $33.13 and a two-hundred day moving average of $29.83.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.14. The business had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. As a group, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Wells Fargo & Company upped 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. Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Raymond James Financial began 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 for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $54.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors lifted its position in shares of Rapport Therapeutics by 30.7% in the third 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 in the last quarter. Maven Securities LTD bought a new stake in shares of Rapport Therapeutics in the third quarter worth $594,000. Baker BROS. Advisors LP lifted its position in shares of Rapport Therapeutics by 181.2% in the third 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 in the last quarter. Swedbank AB bought a new stake in shares of Rapport Therapeutics in the fourth quarter worth $3,434,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position 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 in the last quarter.

Rapport Therapeutics Company 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.