The Manufacturers Life Insurance Company Takes Position in Rapport Therapeutics, Inc. $RAPP

The Manufacturers Life Insurance Company purchased a new stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 69,682 shares of the company’s stock, valued at approximately $2,904,000.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 valued at $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 purchased a new position in Rapport Therapeutics in the first quarter worth $2,039,000. Rhumbline Advisers increased its position in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after purchasing an additional 4,109 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company’s stock worth $3,789,000 after purchasing an additional 17,496 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $121,000.

Analyst Ratings Changes

RAPP has been the topic of several research analyst reports. HC Wainwright boosted their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an “outperform” rating for the company. Leerink Partners started coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. UBS Group restated a “strong-buy” rating on shares of Rapport Therapeutics in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rapport Therapeutics currently has an average rating of “Buy” and an average price target of $62.86.

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $48.56 on Wednesday. The firm has a market capitalization of $2.33 billion, a P/E ratio of -15.97 and a beta of 1.02. Rapport Therapeutics, Inc. has a 1-year low of $14.11 and a 1-year high of $52.93. The company’s fifty day moving average price is $43.80 and its 200-day moving average price is $37.23.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Equities analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In other news, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the sale, the chief executive officer directly owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 73,034 shares of company stock valued at $3,484,157 over the last three months. Insiders own 12.48% of the company’s stock.

Rapport Therapeutics 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.