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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $26.84, for a total value of $228,140.00. Following the sale, the insider owned 395,575 shares in the company, valued at $10,617,233. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 stock was 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 transaction of $214,115.00.

Rapport Therapeutics Stock Performance

RAPP opened at $26.81 on Friday. Rapport Therapeutics, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The firm has a 50-day moving average of $28.40 and a 200 day moving average of $23.26. The firm has a market cap of $1.28 billion, a P/E ratio of -9.89 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. Equities research analysts predict that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BTIG Research restated a “buy” rating and set a $47.00 price target on shares of Rapport Therapeutics in a research report on Monday, December 8th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright lifted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Seven equities 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $99,000 after buying an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Rapport Therapeutics in the 1st quarter worth $2,039,000. Rhumbline Advisers increased its position in shares of Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after acquiring an additional 4,109 shares during the period. TD Asset Management Inc increased its position in shares of Rapport Therapeutics by 20.9% in the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after acquiring an additional 34,052 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Rapport Therapeutics by 5.5% in the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after purchasing an additional 17,496 shares during the last quarter.

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.