BlackRock Inc. Makes New $112.50 Million Investment in Rapport Therapeutics, Inc. $RAPP

Key Points

• BlackRock acquired 2.7 million shares of Rapport Therapeutics in the second quarter, valued at approximately $112.5 million and representing a 5.64% stake.
• Rapport shares recently traded at $48.77, down 4.1%, while the company reported a quarterly loss of $1.19 per share—worse than analysts’ expected loss of $1.12.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $62.86; however, insiders have sold more than $3.4 million in shares over the past three months.

BlackRock Inc. acquired a new stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,699,786 shares of the company's stock, valued at approximately $112,500,000. BlackRock Inc. owned about 5.64% of Rapport Therapeutics at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. KBC Group NV acquired a new stake in Rapport Therapeutics during the first quarter worth $30,000. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics in the fourth quarter worth about $37,000. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics during the third quarter valued at $43,000. State of Wyoming acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at about $143,000.

Insider Activity at Rapport Therapeutics

In other news, CEO Abraham Ceesay sold 18,921 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was 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 directly owned 467,187 shares of the company's stock, valued at $23,158,459.59. This trade represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 73,034 shares of company stock worth $3,484,157 over the last three months. Company insiders own 12.48% of the company's stock.

Rapport Therapeutics Trading Down 4.1%

Shares of NASDAQ RAPP opened at $48.77 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of -16.04 and a beta of 0.97. The firm's 50-day moving average price is $43.40 and its 200-day moving average price is $36.87. Rapport Therapeutics, Inc. has a 1-year low of $14.11 and a 1-year high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Equities research analysts forecast that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RAPP. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 price target for the company. UBS Group reissued a "strong-buy" rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. HC Wainwright upped their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. William Blair assumed coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They set an "outperform" rating for the company. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $75.00 price target on shares of Rapport Therapeutics in a research note on Monday, August 17th. Two research 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, the company has a consensus rating of "Buy" and a consensus price target of $62.86.

About Rapport Therapeutics

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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