Rock Ventures L.P. Third Sells 426,005 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 426,005 shares of Rapport Therapeutics stock in a transaction on Friday, April 17th. The shares were sold at an average price of $40.32, for a total value of $17,176,521.60. Following the sale, the insider directly owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Stock Down 0.5%

Shares of NASDAQ RAPP opened at $36.78 on Thursday. The firm has a market cap of $1.76 billion, a PE ratio of -12.86 and a beta of 1.09. Rapport Therapeutics, Inc. has a twelve month low of $7.73 and a twelve month high of $42.27. The business has a fifty day simple moving average of $30.88 and a two-hundred day simple moving average of $28.74.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). On average, research analysts expect that Rapport Therapeutics, Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

RAPP has been the subject of a number of analyst reports. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, March 10th. Wells Fargo & Company upped their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, March 11th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, BTIG Research upped their target price on Rapport Therapeutics to $47.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics currently has a consensus rating of “Buy” and an average target price of $53.83.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 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 shares of Rapport Therapeutics in the first quarter valued at about $2,039,000. Rhumbline Advisers increased its holdings 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 purchasing an additional 4,109 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $3,789,000 after purchasing an additional 17,496 shares during the period. Finally, Creative Planning acquired a new position in shares of Rapport Therapeutics in the second quarter valued at about $121,000.

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.