Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $85,342.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 2,840 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $30.05, for a total value of $85,342.00. Following the completion of the transaction, the insider directly owned 296,991 shares in the company, valued at $8,924,579.55. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rapport Therapeutics Trading Up 8.9%

Shares of NASDAQ:RAPP opened at $30.12 on Thursday. The stock has a 50 day moving average of $28.28 and a 200 day moving average of $22.48. The company has a market cap of $1.44 billion, a PE ratio of -11.11 and a beta of 1.63. Rapport Therapeutics, Inc. has a 12-month low of $6.43 and a 12-month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping 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.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RAPP. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. BTIG Research restated a “buy” rating and issued a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. Citizens Jmp upped their price objective on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company set a $51.00 target price on Rapport Therapeutics in a research note on Friday, December 19th. Finally, Truist Financial began coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics in the third quarter worth about $43,000. Strs Ohio grew its holdings in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after buying an additional 400 shares in the last quarter. Corebridge Financial Inc. increased its stake in Rapport Therapeutics by 79.1% in the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after acquiring an additional 3,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 acquiring an additional 4,582 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of 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 acquiring an additional 5,153 shares in 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.