Rapport Therapeutics, Inc. $RAPP Stock Position Lessened by Cormorant Asset Management LP

Cormorant Asset Management LP decreased its position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,027,521 shares of the company’s stock after selling 165,000 shares during the quarter. Rapport Therapeutics comprises 4.2% of Cormorant Asset Management LP’s holdings, making the stock its 5th biggest position. Cormorant Asset Management LP owned about 0.06% of Rapport Therapeutics worth $91,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after purchasing an additional 828 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after purchasing an additional 905 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics during the 4th quarter valued at $37,000. Creative Planning grew its holdings in Rapport Therapeutics by 12.8% during the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Rapport Therapeutics by 8.9% during the 3rd quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock valued at $639,000 after acquiring an additional 1,757 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Wells Fargo & Company raised their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

Rapport Therapeutics Stock Down 4.2%

NASDAQ RAPP opened at $36.87 on Thursday. The stock has a market capitalization of $1.76 billion, a PE ratio of -14.18 and a beta of 0.97. The company has a 50 day moving average price of $36.68 and a two-hundred day moving average price of $31.54. Rapport Therapeutics, Inc. has a 12-month low of $10.51 and a 12-month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares of the company’s stock, valued at approximately $270,516,072.96. This trade represents a 5.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the company’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 completion of the sale, the insider directly owned 246,426 shares in the company, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 895,158 shares of company stock valued at $35,908,941 over the last ninety days. 12.48% of the stock is owned by insiders.

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.