David Bredt Sells 8,500 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the transaction, the insider directly owned 387,075 shares in the company, valued at $11,232,916.50. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

David Bredt also recently made the following trade(s):

• On Thursday, January 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $26.84, for a total transaction of $228,140.00.
• On Wednesday, December 31st, David Bredt sold 6,567 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.05, for a total transaction of $197,338.35.
• On Monday, December 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $30.02, for a total value of $255,170.00.

Rapport Therapeutics Price Performance

NASDAQ RAPP traded up $0.79 during trading on Thursday, reaching $29.99. 343,123 shares of the company’s stock were exchanged, compared to its average volume of 338,758. Rapport Therapeutics, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The stock has a market capitalization of $1.43 billion, a P/E ratio of -11.07 and a beta of 1.63. The business has a 50 day moving average price of $28.32 and a 200-day moving average price of $25.33.

Analysts Set New Price Targets

Several brokerages have commented on RAPP. BTIG Research restated a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. Wells Fargo & Company assumed coverage on Rapport Therapeutics in a report on Monday, February 2nd. They issued an “overweight” rating and a $43.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a research report on Friday, December 19th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after acquiring an additional 4,582 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Rapport Therapeutics during the 1st quarter worth approximately $2,039,000. Rhumbline Advisers boosted its stake in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after buying an additional 4,109 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Rapport Therapeutics by 20.9% in the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after acquiring an additional 34,052 shares in the last quarter. Finally, 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 valued at $3,789,000 after acquiring an additional 17,496 shares during the last quarter.

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.