Deutsche Bank AG Takes $1.34 Million Position in Rapport Therapeutics, Inc. $RAPP

Key Points

• Deutsche Bank acquired a new $1.34 million stake in Rapport Therapeutics during the second quarter, joining several other institutional investors that also initiated or increased positions.
• Analysts remain broadly bullish, with an average rating of “Buy” and a consensus price target of $62.86; several firms recently issued targets between $65 and $75.
• RAPP shares opened at $48.77, near their 12-month high, despite the company missing quarterly earnings estimates and reporting a loss of $1.19 per share. Insiders, including the CEO, have sold shares worth about $3.48 million over the past quarter.

Deutsche Bank AG acquired 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 13F filing with the Securities & Exchange Commission. The firm acquired 32,212 shares of the company's stock, valued at approximately $1,342,000. Deutsche Bank AG owned about 0.07% of Rapport Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RAPP. Bank of New York Mellon Corp acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $3,426,000. State of Wyoming purchased a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at $65,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $74,360,823. Walleye Capital LLC acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $4,257,000. Finally, Bank of America Corp DE raised its position in shares of Rapport Therapeutics by 220.7% in the 1st quarter. Bank of America Corp DE now owns 110,826 shares of the company's stock worth $3,468,000 after buying an additional 76,273 shares during the period.

Analyst Upgrades and Downgrades

RAPP has been the subject of a number of research reports. HC Wainwright boosted their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price objective on shares of Rapport Therapeutics in a report on Monday, August 17th. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. BTIG Research reiterated a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Wednesday, August 19th. Finally, William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $62.86.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $48.77 on Friday. The company's fifty day moving average price is $43.40 and its two-hundred day moving average price is $36.87. The firm has a market capitalization of $2.34 billion, a P/E ratio of -16.04 and a beta of 0.97. Rapport Therapeutics, Inc. has a 12 month low of $14.11 and a 12 month 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 for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). On average, sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 28,958 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the transaction, the chief executive officer owned 486,108 shares in the company, valued at $23,338,045.08. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 73,034 shares of company stock valued at $3,484,157 over the last quarter. Company 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.

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