Bank of New York Mellon Corp Invests $3.43 Million in Rapport Therapeutics, Inc. $RAPP

Key Points

• Bank of New York Mellon initiated a $3.43 million position in Rapport Therapeutics, while Johnson & Johnson and other institutions also recently bought shares. Goldman Sachs remains a major holder with roughly 3 million shares.
• Rapport shares opened at $45.77, with a market capitalization of approximately $2.2 billion and a one-year trading range of $14.21 to $52.93. The company reported a quarterly loss of $1.19 per share, missing estimates by $0.07.
• Analyst sentiment is broadly positive, with an average rating of “Buy” and a consensus price target of $62.86, although one firm issued a sell rating. Company insiders sold about $3.48 million of stock over the past quarter.

Bank of New York Mellon Corp bought a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 82,222 shares of the company's stock, valued at approximately $3,426,000. Bank of New York Mellon Corp owned 0.17% of Rapport Therapeutics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Johnson & Johnson purchased a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $74,360,823. Swedbank AB purchased a new position in shares of Rapport Therapeutics during the 4th quarter valued at approximately $3,434,000. Walleye Capital LLC purchased a new position in shares of Rapport Therapeutics during the 2nd quarter valued at approximately $4,257,000. Dimensional Fund Advisors LP lifted its stake in shares of Rapport Therapeutics by 168.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock valued at $7,025,000 after purchasing an additional 141,011 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock valued at $91,077,000 after purchasing an additional 579,903 shares during the period.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer directly owned 486,108 shares of the company's stock, valued at $23,338,045.08. This trade represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 73,034 shares of company stock worth $3,484,157 over the last quarter. Company insiders own 12.48% of the company's stock.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $45.77 on Monday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -15.06 and a beta of 1.02. The stock has a 50 day simple moving average of $44.27 and a 200-day simple moving average of $37.64. Rapport Therapeutics, Inc. has a 1-year low of $14.21 and a 1-year high of $52.93.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Leerink Partners started coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective for the company. BTIG Research reissued a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Finally, UBS Group restated a "strong-buy" rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Rapport Therapeutics presently has an average rating of "Buy" and an average price target of $62.86.

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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