Short Interest in Rapport Therapeutics, Inc. (NASDAQ:RAPP) Expands By 20.7%

Rapport Therapeutics, Inc. (NASDAQ:RAPP) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,692,137 shares, an increase of 20.7% from the December 15th total of 2,230,607 shares. Based on an average daily volume of 469,814 shares, the short-interest ratio is presently 5.7 days. Approximately 6.5% of the company’s shares are sold short. Approximately 6.5% of the company’s shares are sold short. Based on an average daily volume of 469,814 shares, the short-interest ratio is presently 5.7 days.

Analysts Set New Price Targets

RAPP has been the topic of several research reports. BTIG Research reaffirmed a “buy” rating and issued a $47.00 price target on shares of Rapport Therapeutics in a research note on Monday, December 8th. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company set a $51.00 price target on shares of Rapport Therapeutics in a research note on Friday, December 19th. HC Wainwright lifted their price target on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Friday, December 19th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

Rapport Therapeutics Stock Down 3.1%

NASDAQ:RAPP opened at $25.97 on Wednesday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -9.58 and a beta of 1.63. The company’s 50 day moving average price is $28.45 and its 200-day moving average price is $23.55. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.06. As a group, sell-side analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $26.84, for a total value of $228,140.00. Following the completion of the sale, the insider directly 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 filing with the SEC, which is available at this link. Also, CEO Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $29.63, for a total value of $150,609.29. Following the sale, the chief executive officer directly owned 30,895 shares in the company, valued at approximately $915,418.85. The trade was a 14.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 56,739 shares of company stock valued at $1,578,630. Company insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics in the 3rd quarter worth about $43,000. Strs Ohio grew its stake in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rapport Therapeutics by 86.4% during 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 last quarter. Creative Planning bought a new position in Rapport Therapeutics during the second quarter valued at approximately $121,000. Finally, Kennedy Capital Management LLC bought a new position in Rapport Therapeutics during the second quarter valued at approximately $128,000.

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.