Rapport Therapeutics (NASDAQ:RAPP) Insider David Bredt Sells 6,567 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 6,567 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total value of $197,338.35. Following the transaction, the insider owned 404,075 shares in the company, valued at approximately $12,142,453.75. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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.
• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.79, for a total value of $219,215.00.

Rapport Therapeutics Stock Down 2.1%

Shares of NASDAQ:RAPP opened at $27.52 on Tuesday. Rapport Therapeutics, Inc. has a 52-week low of $6.43 and a 52-week high of $42.27. The stock has a market cap of $1.31 billion, a P/E ratio of -10.15 and a beta of 1.63. The business has a fifty day moving average of $28.26 and a two-hundred day moving average of $22.31.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.06. On average, equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. Russell Investments Group Ltd. acquired a new position in Rapport Therapeutics in the 3rd quarter valued at about $43,000. Strs Ohio grew its holdings in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares in the last quarter. Corebridge Financial Inc. increased its stake in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after buying an additional 3,653 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Rapport Therapeutics by 90.2% during the 1st quarter. MetLife Investment Management LLC now owns 10,863 shares of the company’s stock worth $109,000 after buying an additional 5,153 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Truist Financial initiated coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price target for the company. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Finally, HC Wainwright increased 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. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.33.

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.