TD Asset Management Inc Lowers Holdings in Rapport Therapeutics, Inc. (NASDAQ:RAPP)

TD Asset Management Inc decreased its position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,818 shares of the company’s stock after selling 15,088 shares during the quarter. TD Asset Management Inc’s holdings in Rapport Therapeutics were worth $1,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. TRV GP V LLC purchased a new position in Rapport Therapeutics during the fourth quarter valued at approximately $126,579,000. Price T Rowe Associates Inc. MD boosted its position in Rapport Therapeutics by 9.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,143,384 shares of the company’s stock valued at $20,285,000 after acquiring an additional 95,976 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Rapport Therapeutics by 0.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,098,415 shares of the company’s stock valued at $19,486,000 after acquiring an additional 9,494 shares during the period. TRV GP VI LLC purchased a new position in shares of Rapport Therapeutics in the 4th quarter valued at $17,194,000. Finally, Geode Capital Management LLC raised its position in shares of Rapport Therapeutics by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 210,676 shares of the company’s stock worth $3,738,000 after acquiring an additional 8,928 shares in the last quarter.

Insiders Place Their Bets

In related news, insider David Bredt sold 8,500 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $14.00, for a total transaction of $119,000.00. Following the transaction, the insider directly owned 435,142 shares of the company’s stock, valued at $6,091,988. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RAPP shares. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. Citizens Jmp started coverage on shares of Rapport Therapeutics in a research report on Tuesday, April 8th. They set a “mkt outperform” rating for the company.

Rapport Therapeutics Stock Down 1.5%

NASDAQ:RAPP opened at $14.15 on Monday. The stock has a market capitalization of $516.48 million, a price-to-earnings ratio of -4.10 and a beta of 0.62. Rapport Therapeutics, Inc. has a 52 week low of $6.43 and a 52 week high of $29.74. The firm has a 50 day moving average of $12.70 and a 200 day moving average of $11.89.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.09. As a group, analysts expect that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Rapport Therapeutics Company Profile

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.