Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Major Shareholder Sells 18,572 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) major shareholder Rock Ventures L.P. Third sold 18,572 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the transaction, the insider directly owned 6,280,525 shares in the company, valued at approximately $251,535,026.25. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Rapport Therapeutics Trading Down 0.1%

RAPP stock traded down $0.02 during mid-day trading on Thursday, hitting $39.49. The stock had a trading volume of 187,740 shares, compared to its average volume of 337,080. Rapport Therapeutics, Inc. has a 1-year low of $7.73 and a 1-year high of $42.27. The company has a fifty day moving average of $34.36 and a 200 day moving average of $30.42. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.19 and a beta of 0.82.

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, topping 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. As a group, sell-side analysts expect that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV bought a new position in Rapport Therapeutics during the first quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics in the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics in the 3rd quarter worth approximately $43,000. Strs Ohio lifted its position in shares of Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after acquiring an additional 400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RAPP. Wells Fargo & Company upped their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 11th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, March 10th. BTIG Research upped their price target on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Weiss Ratings reiterated 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 assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

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.