Artia Global Partners LP bought a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 138,508 shares of the company's stock, valued at approximately $5,772,000. Rapport Therapeutics makes up approximately 1.1% of Artia Global Partners LP's investment portfolio, making the stock its 20th largest position. Artia Global Partners LP owned about 0.29% of Rapport Therapeutics as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently bought and sold shares of RAPP. KBC Group NV purchased a new stake in shares of Rapport Therapeutics during the first quarter valued at $30,000. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics in the fourth quarter worth about $37,000. Russell Investments Group Ltd. purchased a new stake in Rapport Therapeutics in the 3rd quarter valued at $43,000. State of Wyoming acquired a new stake in Rapport Therapeutics during the second quarter worth $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 valued at $99,000 after purchasing an additional 4,582 shares during the last quarter.
Rapport Therapeutics Price Performance
NASDAQ RAPP opened at $52.50 on Thursday. The company has a market cap of $2.52 billion, a P/E ratio of -17.27 and a beta of 0.97. Rapport Therapeutics, Inc. has a 12 month low of $14.11 and a 12 month high of $52.83. The company has a 50-day moving average of $42.90 and a 200-day moving average of $36.62.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its 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). As a group, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.
Insider Activity
In related news, CEO Abraham Ceesay sold 18,921 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $49.57, for a total transaction of $937,913.97. Following the completion of the sale, the chief executive officer owned 467,187 shares of the company's stock, valued at approximately $23,158,459.59. This represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 73,034 shares of company stock worth $3,484,157. 12.48% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. HC Wainwright raised their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Truist Financial initiated coverage on Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective for the company. UBS Group restated a "strong-buy" rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. Leerink Partners began coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target on the stock. Finally, BTIG Research restated a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of "Buy" and an average price target of $62.86.
Get Our Latest Report on RAPP
Rapport Therapeutics Profile
(
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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