Goldman Sachs Group Inc. Buys 579,903 Shares of Rapport Therapeutics, Inc. $RAPP

Key Points

• Goldman Sachs increased its stake in Rapport Therapeutics by 23.9% in the fourth quarter, buying 579,903 more shares to bring its total holding to 3,001,879 shares worth about $91.1 million.
• Insider selling picked up recently, with executive Krishnaswamy Yeleswaram and major shareholder Rock Ventures V. L.P. Third both selling shares on April 17; insiders have sold 895,158 shares worth about $35.9 million over the past three months.
• Analyst sentiment remains mostly positive, with one Strong Buy, eight Buy ratings, and one Sell rating, giving the stock a consensus “Moderate Buy” and a target price of $58.83.

Goldman Sachs Group Inc. grew its stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 23.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,001,879 shares of the company's stock after purchasing an additional 579,903 shares during the period. Goldman Sachs Group Inc. owned approximately 6.30% of Rapport Therapeutics worth $91,077,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in shares of Rapport Therapeutics during the 4th quarter valued at about $244,000. Geode Capital Management LLC boosted its stake in Rapport Therapeutics by 30.2% during the fourth quarter. Geode Capital Management LLC now owns 694,734 shares of the company's stock worth $21,081,000 after acquiring an additional 161,331 shares in the last quarter. Swedbank AB bought a new stake in Rapport Therapeutics during the fourth quarter worth about $3,434,000. PSP Research LLC bought a new stake in Rapport Therapeutics during the fourth quarter worth about $531,000. Finally, ProShare Advisors LLC bought a new stake in Rapport Therapeutics during the fourth quarter worth about $222,000.

Insider Activity at Rapport Therapeutics

In other news, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business's stock in a transaction that occurred 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 transaction, the insider directly owned 246,426 shares of the company's stock, valued at $9,854,575.74. The trade was a 7.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the transaction, the insider directly owned 6,709,228 shares of the company's stock, valued at $270,516,072.96. The trade was a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 895,158 shares of company stock valued at $35,908,941 over the last three months. 12.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen reissued a "buy" rating on shares of Rapport Therapeutics in a research note on Monday, March 9th. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 11th. Finally, Truist Financial assumed coverage on shares of Rapport Therapeutics in a research note on Monday, May 18th. They set a "buy" rating and a $56.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.83.

Rapport Therapeutics Stock Down 2.3%

RAPP opened at $35.84 on Wednesday. The firm has a 50 day moving average price of $36.03 and a 200-day moving average price of $31.17. Rapport Therapeutics, Inc. has a twelve month low of $10.51 and a twelve month high of $42.27. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -13.78 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analysts' expectations of $7.50 million. As a group, analysts expect that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current year.

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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