Key Points
- Rock Ventures L.P. Third sold 18,572 shares of Rapport Therapeutics at an average price of $40.05, totaling about $743,809. After the sale, it still held 6,280,525 shares worth roughly $251.5 million.
- Rapport Therapeutics stock was little changed, opening at $39.49 and trading near its 12-month high of $42.27, with a market cap of about $1.89 billion.
- The company recently reported better-than-expected quarterly results, posting a smaller-than-expected loss and revenue of $20 million versus the $7.5 million consensus estimate. Analysts currently rate the stock a Moderate Buy with a consensus target price of $58.83.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) 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 transaction of $743,808.60. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Rapport Therapeutics Stock Down 0.1%
Shares of NASDAQ:RAPP opened at $39.49 on Friday. Rapport Therapeutics, Inc. has a 12 month low of $7.73 and a 12 month high of $42.27. The company's 50-day moving average price is $34.60 and its two-hundred day moving average price is $30.51. The firm has a market cap of $1.89 billion, a P/E ratio of -15.19 and a beta of 0.82.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, topping analysts' consensus estimates 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, equities analysts predict that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rapport Therapeutics
Several institutional investors have recently modified their holdings of RAPP. Baker BROS. Advisors LP grew its position in shares of Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company's stock worth $45,949,000 after buying an additional 997,000 shares during the period. Vestal Point Capital LP acquired a new stake in shares of Rapport Therapeutics during the 3rd quarter worth approximately $28,215,000. Polar Capital Holdings Plc acquired a new stake in shares of Rapport Therapeutics during the 3rd quarter worth approximately $27,887,000. Capital International Investors grew its position in shares of Rapport Therapeutics by 30.7% during the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company's stock worth $101,055,000 after buying an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rapport Therapeutics by 265.9% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company's stock worth $26,500,000 after buying an additional 648,378 shares during the period.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. TD Cowen reissued a "buy" rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, March 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.83.
View Our Latest Stock Report on RAPP
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.
Further Reading
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