Candriam S.C.A. Invests $5.82 Million in Rapport Therapeutics, Inc. $RAPP

Candriam S.C.A. purchased a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 185,925 shares of the company's stock, valued at approximately $5,818,000. Candriam S.C.A. owned about 0.39% of Rapport Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock valued at $91,077,000 after acquiring an additional 579,903 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock valued at $55,151,000 after purchasing an additional 191,219 shares in the last quarter. Alliancebernstein L.P. grew its stake in Rapport Therapeutics by 4.1% in the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company's stock worth $13,129,000 after purchasing an additional 45,063 shares during the period. Vestal Point Capital LP lifted its position in Rapport Therapeutics by 16.8% during the fourth quarter. Vestal Point Capital LP now owns 1,110,000 shares of the company's stock valued at $33,677,000 after buying an additional 160,000 shares during the period. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Rapport Therapeutics by 7.0% during the 4th quarter. Polar Capital Holdings Plc now owns 1,004,728 shares of the company's stock valued at $30,483,000 after buying an additional 65,776 shares in the last quarter.

Insider Activity at Rapport Therapeutics

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the sale, the insider owned 246,426 shares of the company's stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the completion of the sale, the insider owned 6,709,228 shares of the company's stock, valued at $270,516,072.96. This trade represents a 5.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 874,933 shares of company stock worth $35,200,571 in the last quarter. Company insiders own 12.48% of the company's stock.

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of recent research reports. Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price target for the company. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. BTIG Research increased their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, May 21st. Truist Financial initiated coverage on Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price target for the company. Finally, Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.86.

Rapport Therapeutics Stock Down 2.8%

Shares of NASDAQ RAPP opened at $40.59 on Tuesday. The firm's 50-day moving average price is $38.15 and its 200-day moving average price is $32.83. Rapport Therapeutics, Inc. has a 52-week low of $13.43 and a 52-week high of $43.76. The company has a market cap of $1.94 billion, a PE ratio of -15.61 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. As a group, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 EPS for the current fiscal year.

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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