ARCH Venture Management LLC Makes New $155.38 Million Investment in Rapport Therapeutics, Inc. $RAPP

ARCH Venture Management LLC bought a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,728,738 shares of the company's stock, valued at approximately $155,376,512. Rapport Therapeutics comprises 0.0% of ARCH Venture Management LLC's holdings, making the stock its 3rd largest holding. ARCH Venture Management LLC owned approximately 7.77% of Rapport Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RAPP. TRV GP V LLC bought a new position in Rapport Therapeutics during the second quarter worth about $261,709,477. BlackRock Inc. bought a new position in Rapport Therapeutics during the second quarter worth about $112,500,000. Johnson & Johnson bought a new position in Rapport Therapeutics during the second quarter worth about $74,360,823. TRV GP VI LLC bought a new position in Rapport Therapeutics during the second quarter worth about $40,387,314. Finally, Vestal Point Capital LP bought a new position in Rapport Therapeutics during the third quarter worth about $28,215,000.

Analysts Set New Price Targets

RAPP has been the topic of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th. HC Wainwright raised their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Leerink Partners began coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective on the stock. UBS Group reiterated a "strong-buy" rating on shares of Rapport Therapeutics in a report on Monday, August 17th. Finally, Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $62.86.

Rapport Therapeutics Price Performance

NASDAQ:RAPP opened at $48.77 on Friday. Rapport Therapeutics, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $52.93. The stock has a market capitalization of $2.34 billion, a PE ratio of -16.04 and a beta of 0.97. The business's 50-day simple moving average is $43.40 and its 200-day simple moving average is $36.87.

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

Insider Buying and Selling

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 18,921 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $49.57, for a total value of $937,913.97. Following the sale, the chief executive officer owned 467,187 shares in the company, valued at approximately $23,158,459.59. The trade was a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 73,034 shares of company stock valued at $3,484,157. Insiders own 12.48% of the company's stock.

Rapport Therapeutics Company 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.