21,873 Shares in Rapport Therapeutics, Inc. $RAPP Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 21,873 shares of Rapport Therapeutics, valued at approximately $219,000, increasing its ownership to about 0.06% as of its latest SEC filing.
• Insider David Bredt sold 8,500 shares of Rapport Therapeutics for $127,500, decreasing his ownership by 1.95% but still retaining 426,642 shares worth approximately $6.4 million.
• Rapport Therapeutics reported a loss of ($0.75) per share in its latest earnings, surpassing analysts' expectations, and is projected to have a consensus EPS of -3.65 for the current year.

Nuveen LLC purchased a new position in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,873 shares of the company's stock, valued at approximately $219,000. Nuveen LLC owned about 0.06% of Rapport Therapeutics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG purchased a new position in shares of Rapport Therapeutics during the fourth quarter valued at $41,000. Wells Fargo & Company MN raised its stake in shares of Rapport Therapeutics by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock worth $86,000 after buying an additional 1,352 shares during the period. California State Teachers Retirement System increased its position in shares of Rapport Therapeutics by 1,151.2% during the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock worth $152,000 after purchasing an additional 7,886 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Rapport Therapeutics by 91,980.0% during the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock worth $918,000 after purchasing an additional 9,198 shares in the last quarter. Finally, Catalyst Private Wealth LLC purchased a new stake in Rapport Therapeutics in the 1st quarter valued at $100,000.

Insider Activity at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $127,500.00. Following the completion of the sale, the insider directly owned 426,642 shares in the company, valued at approximately $6,399,630. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 25,500 shares of company stock valued at $365,500 over the last ninety days. Company insiders own 13.57% of the company's stock.

Rapport Therapeutics Price Performance

RAPP opened at $14.36 on Friday. The stock's 50 day moving average price is $14.68 and its 200 day moving average price is $11.91. The stock has a market cap of $524.14 million, a P/E ratio of -5.74 and a beta of 0.73. Rapport Therapeutics, Inc. has a 12 month low of $6.43 and a 12 month high of $29.74.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.87) by $0.12. Equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RAPP shares. JMP Securities reaffirmed a "market outperform" rating and issued a $28.00 price target on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. HC Wainwright assumed coverage on Rapport Therapeutics in a report on Wednesday, August 6th. They issued a "buy" rating and a $31.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Rapport Therapeutics currently has a consensus rating of "Buy" and an average target price of $29.50.

Rapport Therapeutics Profile

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.

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