Charles Schwab Investment Management Inc. Raises Position in Rapport Therapeutics, Inc. $RAPP

Charles Schwab Investment Management Inc. raised its stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 23.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,968 shares of the company’s stock after purchasing an additional 17,459 shares during the period. Charles Schwab Investment Management Inc. owned 0.25% of Rapport Therapeutics worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RAPP. Bank of New York Mellon Corp lifted its holdings in shares of Rapport Therapeutics by 77.7% in the 1st quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company’s stock worth $356,000 after acquiring an additional 15,514 shares during the last quarter. Crestline Management LP bought a new stake in shares of Rapport Therapeutics in the 4th quarter worth about $488,000. Barclays PLC lifted its holdings in shares of Rapport Therapeutics by 43.8% in the 4th quarter. Barclays PLC now owns 18,497 shares of the company’s stock worth $328,000 after acquiring an additional 5,634 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth about $155,000. Finally, Rhumbline Advisers lifted its holdings in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after acquiring an additional 4,109 shares during the last quarter.

Rapport Therapeutics Stock Down 7.1%

RAPP opened at $16.37 on Wednesday. The stock’s fifty day moving average is $14.48 and its two-hundred day moving average is $11.90. The company has a market capitalization of $597.51 million, a P/E ratio of -6.55 and a beta of 0.73. Rapport Therapeutics, Inc. has a 52 week low of $6.43 and a 52 week high of $29.74.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.12. Equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

RAPP has been the topic of several recent analyst reports. HC Wainwright initiated coverage on Rapport Therapeutics in a report on Wednesday, August 6th. They issued a “buy” rating and a $31.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price target on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rapport Therapeutics has an average rating of “Buy” and a consensus target price of $29.50.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $127,500.00. Following the transaction, the insider owned 426,642 shares of the company’s stock, valued at approximately $6,399,630. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 25,500 shares of company stock worth $365,500. Company insiders own 13.57% of the company’s stock.

About Rapport Therapeutics

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.