Johnson & Johnson Purchases New Stake in Rapport Therapeutics, Inc. $RAPP

Key Points

• Johnson & Johnson acquired 1.78 million shares of Rapport Therapeutics worth approximately $74.4 million, giving it a 3.73% stake and making RAPP its fourth-largest holding.
• RAPP shares opened at $47.42, near their 12-month high of $49.50, while the company reported a quarterly loss of $1.19 per share—worse than analysts’ $1.12 estimate.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $61.57, although some firms maintain sell ratings; insiders sold 72,281 shares worth about $3.27 million in the latest quarter.

Johnson & Johnson purchased a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,784,517 shares of the company's stock, valued at approximately $74,360,823,000. Rapport Therapeutics makes up approximately 9.3% of Johnson & Johnson's holdings, making the stock its 4th largest holding. Johnson & Johnson owned about 3.73% of Rapport Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock valued at $99,000 after acquiring an additional 4,582 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics in the 1st quarter valued at $2,039,000. Rhumbline Advisers raised its position in Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock valued at $144,000 after purchasing an additional 4,109 shares during the period. Geode Capital Management LLC lifted its stake in shares of Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock worth $3,789,000 after purchasing an additional 17,496 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $121,000.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the transaction, the insider owned 6,280,525 shares of the company's stock, valued at approximately $251,535,026.25. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Abraham Ceesay sold 28,958 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer owned 486,108 shares of the company's stock, valued at approximately $23,338,045.08. This trade represents a 5.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 72,281 shares of company stock worth $3,269,892. Insiders own 12.48% of the company's stock.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $47.42 on Friday. Rapport Therapeutics, Inc. has a 12 month low of $13.86 and a 12 month high of $49.50. The firm has a market capitalization of $2.28 billion, a P/E ratio of -15.60 and a beta of 0.97. The company's fifty day moving average price is $40.89 and its two-hundred day moving average price is $35.28.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. HC Wainwright increased their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday. BTIG Research reissued a "buy" rating and set a $65.00 price target on shares of Rapport Therapeutics in a research report on Wednesday, August 5th. Leerink Partners started coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target for the company. Wall Street Zen cut Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Rapport Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $61.57.

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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