Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $246,670.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total transaction of $246,670.00. Following the transaction, the insider directly owned 387,075 shares in the company, valued at $11,232,916.50. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, January 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $26.84, for a total value of $228,140.00.
• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.05, for a total transaction of $197,338.35.
• 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 transaction of $255,170.00.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP traded up $0.79 during trading on Thursday, hitting $29.99. 343,123 shares of the stock were exchanged, compared to its average volume of 338,758. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.07 and a beta of 1.63. Rapport Therapeutics, Inc. has a 1-year low of $6.43 and a 1-year high of $42.27. The company’s fifty day simple moving average is $28.32 and its 200-day simple moving average is $25.33.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics during the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics in the 3rd quarter valued at $43,000. Strs Ohio boosted its stake in Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after purchasing an additional 905 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 4,582 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. HC Wainwright upped their price target on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Wells Fargo & Company initiated coverage on shares of Rapport Therapeutics in a research report on Monday, February 2nd. They issued an “overweight” rating and a $43.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, January 22nd. Seven investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $50.80.

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.