Rapport Therapeutics, Inc. (NASDAQ:RAPP) Sees Large Increase in Short Interest

Rapport Therapeutics, Inc. (NASDAQ:RAPP) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 2,692,137 shares, a growth of 20.7% from the December 15th total of 2,230,607 shares. Currently, 6.5% of the company’s stock are short sold. Based on an average trading volume of 469,814 shares, the days-to-cover ratio is currently 5.7 days. Based on an average trading volume of 469,814 shares, the days-to-cover ratio is currently 5.7 days. Currently, 6.5% of the company’s stock are short sold.

Insider Buying and Selling at Rapport Therapeutics

In related news, insider Krishnaswamy Yeleswaram sold 2,840 shares of Rapport Therapeutics 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 sale, the insider directly owned 296,991 shares in the company, valued at approximately $8,924,579.55. This trade represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 5,083 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $29.63, for a total transaction of $150,609.29. Following the transaction, the chief executive officer owned 30,895 shares in the company, valued at $915,418.85. This represents a 14.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,739 shares of company stock worth $1,578,630. Insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rapport Therapeutics by 86.4% during the first 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rapport Therapeutics in the first quarter worth about $2,039,000. Rhumbline Advisers lifted 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 worth $144,000 after buying an additional 4,109 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Rapport Therapeutics by 20.9% in the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after buying an additional 34,052 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock valued at $3,789,000 after buying an additional 17,496 shares during the last quarter.

Rapport Therapeutics Stock Performance

Shares of NASDAQ RAPP traded down $0.77 during midday trading on Tuesday, reaching $26.05. The stock had a trading volume of 57,797 shares, compared to its average volume of 323,379. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.66 and a beta of 1.63. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27. The stock has a 50-day moving average of $28.44 and a 200-day moving average of $23.45.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.06. As a group, analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RAPP. Wells Fargo & Company set a $51.00 price objective on shares of Rapport Therapeutics in a research report on Friday, December 19th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. HC Wainwright increased their price target on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Citizens Jmp raised their price target 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. Finally, Wall Street Zen cut Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

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.