Sei Investments Co. Increases Stake in Rapport Therapeutics, Inc. $RAPP

Sei Investments Co. grew its position in Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 68.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,819 shares of the company’s stock after acquiring an additional 12,551 shares during the period. Sei Investments Co. owned about 0.06% of Rapport Therapeutics worth $964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new position in Rapport Therapeutics during the 4th quarter worth approximately $3,434,000. Goldman Sachs Group Inc. increased its stake in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after buying an additional 579,903 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after buying an additional 141,011 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Rapport Therapeutics in the 1st quarter valued at approximately $1,121,000. Finally, Candriam S.C.A. bought a new position in shares of Rapport Therapeutics during the first quarter valued at $5,818,000.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the transaction, the insider directly owned 6,280,525 shares of the company’s stock, valued at $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,281 shares of company stock worth $3,269,892 in the last quarter. 12.48% of the stock is owned by corporate insiders.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock opened at $47.73 on Thursday. The stock’s 50-day moving average is $40.46 and its 200 day moving average is $35.05. Rapport Therapeutics, Inc. has a one year low of $13.86 and a one year high of $49.50. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -15.70 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, sell-side analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on RAPP. Leerink Partners assumed coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Finally, Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.57.

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.