Rock Ventures L.P. Third Sells 5,018 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 5,018 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $40.31, for a total value of $202,275.58. Following the completion of the sale, the insider directly owned 6,432,715 shares in the company, valued at approximately $259,302,741.65. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP opened at $37.24 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of -14.32 and a beta of 0.82. The stock’s 50-day moving average is $32.58 and its 200-day moving average is $29.61. Rapport Therapeutics, Inc. has a 52-week low of $7.73 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, equities analysts predict that Rapport Therapeutics, Inc. will post -3.07 EPS for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rapport Therapeutics by 23.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after purchasing an additional 579,903 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock valued at $55,151,000 after purchasing an additional 191,219 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of Rapport Therapeutics by 181.2% in the third quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after acquiring an additional 997,000 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Rapport Therapeutics by 4.1% in the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after acquiring an additional 45,063 shares during the last quarter.

Analysts Set New Price Targets

RAPP has been the topic of a number of research reports. BTIG Research reaffirmed a “buy” rating and set a $53.00 target price on shares of Rapport Therapeutics in a research report on Friday, May 8th. Raymond James Financial initiated coverage on Rapport Therapeutics in a research report on Friday, April 10th. They set a “strong-buy” rating and a $66.00 target price on the stock. Wells Fargo & Company lifted their target price on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Truist Financial raised Rapport Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $54.83.

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.