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 on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the transaction, the insider owned 387,075 shares in the company, valued at $11,232,916.50. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, January 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.84, for a total value of $228,140.00.
• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The stock was 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.

Rapport Therapeutics Stock Down 1.7%

Shares of RAPP stock traded down $0.50 on Friday, hitting $29.49. The stock had a trading volume of 104,116 shares, compared to its average volume of 331,002. Rapport Therapeutics, Inc. has a one year low of $6.43 and a one year high of $42.27. The business has a 50 day moving average price of $28.34 and a 200 day moving average price of $25.36. The company has a market cap of $1.41 billion, a PE ratio of -10.89 and a beta of 1.63.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors have recently bought and sold shares of the company. Strs Ohio grew its holdings in Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Rapport Therapeutics by 56.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after purchasing an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after buying an additional 905 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Rapport Therapeutics during the 4th quarter valued at about $37,000. Finally, Creative Planning increased its position in Rapport Therapeutics by 12.8% during the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after buying an additional 1,357 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RAPP shares. Citizens Jmp increased their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. HC Wainwright upped their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Finally, BTIG Research restated a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research note on Monday, December 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.80.

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.