Rapport Therapeutics (NASDAQ:RAPP) Insider David Bredt Sells 8,500 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total transaction of $228,140.00. Following the completion of the transaction, the insider directly owned 395,575 shares in the company, valued at approximately $10,617,233. This represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

David Bredt also recently made the following trade(s):

• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.05, for a total value of $197,338.35.
• On Monday, December 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.02, for a total value of $255,170.00.
• On Monday, November 17th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.19, for a total value of $214,115.00.

Rapport Therapeutics Price Performance

Shares of RAPP traded down $0.02 during mid-day trading on Friday, reaching $26.84. The stock had a trading volume of 214,117 shares, compared to its average volume of 348,283. Rapport Therapeutics, Inc. has a 52-week low of $6.43 and a 52-week high of $42.27. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -9.90 and a beta of 1.63. The business’s fifty day moving average is $28.38 and its 200 day moving average is $23.07.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.06. As a group, sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors have recently modified their holdings of RAPP. Baker BROS. Advisors LP increased its holdings 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 valued at $45,949,000 after purchasing an additional 997,000 shares during the period. Vestal Point Capital LP purchased a new position in Rapport Therapeutics in the 3rd quarter valued at $28,215,000. Polar Capital Holdings Plc acquired a new position in Rapport Therapeutics in the 3rd quarter valued at $27,887,000. Capital International Investors increased its stake in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after buying an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Rapport Therapeutics by 265.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock worth $26,500,000 after buying an additional 648,378 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RAPP shares. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Citizens Jmp lifted their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. HC Wainwright upped their target price on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.33.

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.