Rapport Therapeutics, Inc. $RAPP Shares Sold by Siren L.L.C.

Siren L.L.C. reduced its position in Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 9.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 641,469 shares of the company’s stock after selling 67,000 shares during the period. Siren L.L.C.’s holdings in Rapport Therapeutics were worth $20,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV purchased a new stake in Rapport Therapeutics during the first quarter worth $30,000. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics during the 3rd quarter worth $43,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 worth $70,000 after buying an additional 905 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the last quarter.

Insider Activity at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction dated Tuesday, May 26th. The shares were 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 $251,535,026.25. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 428,703 shares of company stock worth $17,215,252 in the last ninety days. Insiders own 12.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. BTIG Research reissued a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Rapport Therapeutics Stock Up 0.1%

RAPP opened at $41.38 on Friday. The firm has a market cap of $1.98 billion, a P/E ratio of -15.92 and a beta of 0.94. Rapport Therapeutics, Inc. has a 52 week low of $13.62 and a 52 week high of $44.28. The business’s fifty day simple moving average is $38.69 and its 200 day simple moving average is $33.46.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. As a group, equities analysts expect that Rapport Therapeutics, Inc. will post -3.33 EPS for the current fiscal year.

About Rapport Therapeutics

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.