Rapport Therapeutics (NASDAQ:RAPP) Insider Krishnaswamy Yeleswaram Sells 404 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider Krishnaswamy Yeleswaram sold 404 shares of Rapport Therapeutics stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $49.90, for a total value of $20,159.60. Following the completion of the sale, the insider directly owned 246,022 shares of the company’s stock, valued at approximately $12,276,497.80. The trade was a 0.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rapport Therapeutics Trading Down 2.5%

Shares of RAPP traded down $1.22 during trading hours on Thursday, reaching $47.85. 323,722 shares of the stock traded hands, compared to its average volume of 345,252. The company has a market cap of $2.30 billion, a P/E ratio of -15.74 and a beta of 0.97. Rapport Therapeutics, Inc. has a 52-week low of $13.90 and a 52-week high of $49.90. The company’s 50-day moving average price is $41.66 and its two-hundred day moving average price is $35.81.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, research analysts forecast that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. BTIG Research restated a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a research report on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and issued a $75.00 price target on shares of Rapport Therapeutics in a research report on Monday. William Blair started coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They set an “outperform” rating for the company. Finally, Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $62.86.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after buying an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics in the 1st quarter valued at about $2,039,000. Rhumbline Advisers raised its position in shares of Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC boosted its holdings in Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after purchasing an additional 17,496 shares during the period. Finally, Creative Planning acquired a new stake in Rapport Therapeutics during the second quarter worth about $121,000.

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.