Rapport Therapeutics, Inc. $RAPP Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Rapport Therapeutics stake by 220.7% in the first quarter, holding 110,826 shares valued at approximately $3.47 million. Several other major institutions, including Goldman Sachs and Vanguard, also expanded their positions.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $62.86. Recent targets range from $56 to $75.
• RAPP opened at $48.77 and remains near its 52-week high of $52.93, but the company reported a quarterly loss of $1.19 per share, missing estimates of a $1.12 loss; insiders have also sold more than 73,000 shares over the past 90 days.

Bank of America Corp DE lifted its holdings in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 220.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,826 shares of the company's stock after buying an additional 76,273 shares during the period. Bank of America Corp DE owned approximately 0.23% of Rapport Therapeutics worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestal Point Capital LP acquired a new stake in Rapport Therapeutics in the 3rd quarter valued at about $28,215,000. Polar Capital Holdings Plc acquired a new position in shares of Rapport Therapeutics during the 3rd quarter worth approximately $27,887,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company's stock valued at $26,500,000 after purchasing an additional 648,378 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 purchasing an additional 579,903 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Rapport Therapeutics by 46.9% in the third quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company's stock valued at $48,308,000 after purchasing an additional 519,047 shares during the last quarter.

Wall Street Analyst Weigh In

RAPP has been the topic of a number of analyst reports. BTIG Research reiterated a "buy" rating and set a $65.00 price objective on shares of Rapport Therapeutics in a research report on Wednesday, August 19th. Raymond James Financial restated a "strong-buy" rating and issued a $75.00 target price on shares of Rapport Therapeutics in a report on Monday, August 17th. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an "outperform" rating for the company. Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a "buy" rating and a $56.00 price target on the stock. Finally, Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $62.86.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $48.77 on Monday. The stock has a market capitalization of $2.34 billion, a P/E ratio of -16.04 and a beta of 0.97. The company has a 50 day moving average price of $43.40 and a 200 day moving average price of $36.94. Rapport Therapeutics, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). Research analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 18,921 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $49.57, for a total value of $937,913.97. Following the sale, the chief executive officer owned 467,187 shares in the company, valued at approximately $23,158,459.59. The trade was a 3.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 73,034 shares of company stock valued at $3,484,157 over the last ninety days. Insiders own 12.48% of the company's stock.

About Rapport Therapeutics

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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