PSP Research LLC Makes New Investment in Rapport Therapeutics, Inc. $RAPP

PSP Research LLC purchased a new position in Rapport Therapeutics, Inc. (NASDAQ:RAPP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,506 shares of the company’s stock, valued at approximately $531,000.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics during the third quarter worth $43,000. Strs Ohio raised its holdings in shares of Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rapport Therapeutics by 64.1% during the fourth 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 purchasing an additional 4,582 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Rapport Therapeutics during the second quarter worth $121,000.

Analyst Upgrades and Downgrades

RAPP has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, March 11th. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 price objective for the company. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday. They issued a “buy” rating and a $56.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.83.

Insider Transactions at Rapport Therapeutics

In other news, COO Cheryl Gault sold 2,014 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $28.93, for a total transaction of $58,265.02. Following the completion of the sale, the chief operating officer owned 169,914 shares of the company’s stock, valued at $4,915,612.02. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the transaction, the insider owned 246,426 shares in the company, valued at $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 878,600 shares of company stock valued at $35,223,398 over the last 90 days. Corporate insiders own 13.57% of the company’s stock.

Rapport Therapeutics Stock Down 2.3%

RAPP stock opened at $34.37 on Wednesday. The stock has a market capitalization of $1.64 billion, a P/E ratio of -13.22 and a beta of 0.82. The firm has a 50-day simple moving average of $33.32 and a 200-day simple moving average of $29.95. Rapport Therapeutics, Inc. has a 52 week low of $7.73 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. On average, analysts expect that Rapport Therapeutics, Inc. will post -3.18 earnings per share for the current year.

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.