Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells 271,495 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 271,495 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $40.12, for a total transaction of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares of the company’s stock, valued at $258,281,847.96. This represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Stock Performance

NASDAQ RAPP traded up $0.39 during trading hours on Monday, hitting $38.43. The company had a trading volume of 547,950 shares, compared to its average volume of 345,723. 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 $1.84 billion, a PE ratio of -14.78 and a beta of 0.82. The business has a 50 day moving average of $32.08 and a 200-day moving average of $29.36.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Sell-side analysts expect that Rapport Therapeutics, Inc. will post -3.06 earnings per share for the current fiscal year.

Institutional Trading of Rapport Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after purchasing an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rapport Therapeutics during the 1st quarter worth approximately $2,039,000. Rhumbline Advisers increased its position in Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC raised its stake in shares of Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after buying an additional 17,496 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $121,000.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RAPP shares. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Raymond James Financial began coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price for the company. Truist Financial upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company increased their target price 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. 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 MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.83.

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.