Algert Global LLC Purchases Shares of 223,822 Rapport Therapeutics, Inc. $RAPP

Key Points

• Algert Global LLC acquired 223,822 shares of Rapport Therapeutics valued at approximately $9.3 million, giving the fund a 0.47% stake. Other institutions, including Geode Capital Management and UBS Asset Management, also increased or initiated positions.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $62.86; Raymond James and BTIG issued targets of $75 and $65, respectively, despite one “Sell” rating.
• RAPP shares opened at $51.17, near their 52-week high of $51.38, but the company reported a quarterly loss of $1.19 per share versus the expected $1.12 loss. CEO Abraham Ceesay also sold 28,958 shares at an average price of $48.01.

Algert Global LLC purchased a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 223,822 shares of the company's stock, valued at approximately $9,327,000. Algert Global LLC owned about 0.47% of Rapport Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $99,000 after buying an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Rapport Therapeutics in the first quarter valued at $2,039,000. Rhumbline Advisers increased its holdings in Rapport Therapeutics by 40.1% during the first 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. Geode Capital Management LLC raised its position in Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock worth $3,789,000 after acquiring an additional 17,496 shares in the last quarter. Finally, Creative Planning bought a new stake in Rapport Therapeutics during the second quarter worth $121,000.

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of recent analyst reports. UBS Group reiterated a "strong-buy" rating on shares of Rapport Therapeutics in a research note on Monday, August 17th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $75.00 target price on shares of Rapport Therapeutics in a report on Monday, August 17th. BTIG Research reiterated a "buy" rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Wall Street Zen cut Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rapport Therapeutics has a consensus rating of "Buy" and a consensus target price of $62.86.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock opened at $51.17 on Wednesday. The business has a fifty day simple moving average of $42.59 and a two-hundred day simple moving average of $36.43. Rapport Therapeutics, Inc. has a 1 year low of $14.11 and a 1 year high of $51.38. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -16.83 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, equities analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 28,958 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the transaction, the chief executive officer owned 486,108 shares in the company, valued at approximately $23,338,045.08. This represents a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 54,113 shares of company stock worth $2,546,243. Insiders own 12.48% of the company's stock.

Rapport Therapeutics 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.

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