Kennedy Capital Management LLC Takes $5.42 Million Position in Rapport Therapeutics, Inc. $RAPP

Key Points

• Kennedy Capital Management initiated a new position in Rapport Therapeutics, buying 178,737 shares worth about $5.42 million in the fourth quarter, according to its latest 13F filing.
• Insider selling has been notable, including a 426,005-share sale by major shareholder Third Rock Ventures and a 20,225-share sale by insider Krishnaswamy Yeleswaram; insiders have sold 895,158 shares over the past 90 days.
• Rapport Therapeutics recently reported better-than-expected quarterly results, with EPS of -$0.42 versus -$0.56 expected and revenue of $20 million versus $7.5 million expected, while analysts maintain a Moderate Buy consensus with a $58.83 target price.

Kennedy Capital Management LLC bought a new stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 178,737 shares of the company's stock, valued at approximately $5,423,000. Kennedy Capital Management LLC owned approximately 0.38% of Rapport Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at $37,000. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $43,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock valued at $70,000 after buying an additional 905 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $143,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at $178,000.

Insider Activity

In other news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $40.32, for a total transaction of $17,176,521.60. Following the completion of the transaction, the insider directly owned 6,709,228 shares in the company, valued at approximately $270,516,072.96. The trade was a 5.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total value of $808,797.75. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 895,158 shares of company stock valued at $35,908,941 over the last 90 days. Corporate insiders own 12.48% of the company's stock.

Rapport Therapeutics Stock Down 0.4%

Shares of RAPP stock opened at $38.26 on Tuesday. Rapport Therapeutics, Inc. has a 12 month low of $10.51 and a 12 month high of $42.27. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -14.72 and a beta of 0.97. The stock has a 50-day moving average price of $36.49 and a 200 day moving average price of $31.42.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analyst estimates of $7.50 million. Sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RAPP shares. Raymond James Financial initiated coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 target price for the company. BTIG Research lifted their price objective on Rapport Therapeutics from $53.00 to $65.00 and gave the stock a "buy" rating in a research report 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 objective for the company. Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rapport Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.83.

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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