Key Points
- Major shareholder Rock Ventures L.P. Third sold 133,618 shares of Rapport Therapeutics at an average price of $40.24, totaling about $5.38 million, and reduced its ownership by 2.08%.
- Rapport Therapeutics stock was up 2.3% and opened at $38.08, near its 52-week high of $42.27, with a market cap of $1.82 billion.
- The company recently beat quarterly expectations, reporting an EPS loss of $0.42 versus estimates of $0.56 and revenue of $20 million versus $7.5 million expected; analysts currently have an average Buy rating and a $54.83 price target.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) major shareholder Rock Ventures L.P. Third sold 133,618 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $40.24, for a total value of $5,376,788.32. Following the completion of the transaction, the insider directly owned 6,299,097 shares of the company's stock, valued at approximately $253,475,663.28. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Rapport Therapeutics Stock Up 2.3%
NASDAQ RAPP opened at $38.08 on Thursday. Rapport Therapeutics, Inc. has a fifty-two week low of $7.73 and a fifty-two week high of $42.27. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -14.65 and a beta of 0.82. The business has a fifty day moving average of $32.77 and a 200-day moving average of $29.70.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -3.07 EPS for the current year.
Institutional Investors Weigh In On Rapport Therapeutics
A number of institutional investors have recently added to or reduced their stakes in RAPP. KBC Group NV purchased a new stake in Rapport Therapeutics during the first quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new stake in Rapport Therapeutics during the fourth quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new stake in Rapport Therapeutics during the third quarter valued at about $43,000. Strs Ohio grew its position in Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company's stock valued at $62,000 after acquiring an additional 400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in 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 valued at $70,000 after acquiring an additional 905 shares during the period.
Analyst Ratings Changes
A number of research firms have recently weighed in on RAPP. Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. BTIG Research reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Rapport Therapeutics in a research report on Friday, May 8th. Wells Fargo & Company lifted their price objective on Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, March 11th. TD Cowen reaffirmed a "buy" rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $54.83.
View Our Latest Stock Report on Rapport Therapeutics
Rapport Therapeutics Company Profile
(
Get Free Report)
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.
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