Rapport Therapeutics, Inc. $RAPP Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Rapport Therapeutics stake by 168.9% in the first quarter, purchasing 141,011 additional shares to own 224,498 shares worth approximately $7.0 million.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.86; individual targets range from $52 to $65, though Weiss Ratings maintained a sell rating.
• RAPP shares opened at $46.98, near their 52-week high of $48.00, while the company reported a quarterly loss of $1.19 per share, missing estimates by $0.07.

Dimensional Fund Advisors LP grew its holdings in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 168.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,498 shares of the company's stock after buying an additional 141,011 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Rapport Therapeutics worth $7,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. KBC Group NV purchased a new stake in shares of Rapport Therapeutics during the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics in the 4th quarter valued at $37,000. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics during the third quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after purchasing an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 4,582 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RAPP. Leerink Partners began coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective for the company. Truist Financial began coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a "buy" rating and a $56.00 target price on the stock. William Blair started coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They issued an "outperform" rating on the stock. BTIG Research reiterated a "buy" rating and issued a $65.00 price target on shares of Rapport Therapeutics in a research report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rapport Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $57.86.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $46.98 on Tuesday. The business's fifty day moving average price is $39.97 and its 200 day moving average price is $34.75. The firm has a market capitalization of $2.25 billion, a PE ratio of -15.45 and a beta of 0.97. Rapport Therapeutics, Inc. has a 1-year low of $13.86 and a 1-year high of $48.00.

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

Insider Activity

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 2,210 shares of the company's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the transaction, the chief executive officer directly owned 537,607 shares in the company, valued at approximately $22,638,630.77. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the transaction, the insider directly owned 6,280,525 shares of the company's stock, valued at approximately $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.48% of the stock is owned by company insiders.

Rapport Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source