Eversept Partners LP Decreases Stock Holdings in Rapport Therapeutics, Inc. $RAPP

Eversept Partners LP decreased its holdings in Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 58.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,233 shares of the company’s stock after selling 84,332 shares during the quarter. Eversept Partners LP’s holdings in Rapport Therapeutics were worth $1,797,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Capital International Investors raised its position in Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock worth $101,055,000 after buying an additional 800,000 shares during the last quarter. Maven Securities LTD purchased a new position in Rapport Therapeutics in the 3rd quarter worth about $594,000. Swedbank AB purchased a new position in Rapport Therapeutics in the 4th quarter worth about $3,434,000. Baker BROS. Advisors LP raised its position in Rapport Therapeutics by 181.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after buying an additional 997,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Rapport Therapeutics by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after buying an additional 191,219 shares during the last quarter.

Insider Transactions at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the transaction, the insider owned 246,426 shares of the company’s stock, valued at approximately $9,854,575.74. This trade represents a 7.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 895,158 shares of company stock worth $35,908,941. Insiders own 12.48% of the company’s stock.

Wall Street Analyst Weigh In

RAPP has been the subject of a number of recent analyst reports. BTIG Research boosted their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial began coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. Finally, TD Cowen reaffirmed a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rapport Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $58.83.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $36.87 on Thursday. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -14.18 and a beta of 0.97. The firm has a fifty day moving average price of $36.68 and a 200-day moving average price of $31.54. Rapport Therapeutics, Inc. has a 1 year low of $10.51 and a 1 year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. Equities research analysts expect that Rapport Therapeutics, Inc. will post -3.25 EPS for the current year.

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.