Rapport Therapeutics, Inc. $RAPP Stock Position Decreased by Sofinnova Investments Inc.

Key Points

• Sofinnova Investments trimmed its stake in Rapport Therapeutics by 2.2% in the fourth quarter, but still owned 1.9 million shares worth about $57.8 million, making the stock its 12th-largest holding.
• Analyst sentiment is generally positive, with multiple firms issuing buy ratings and an average Moderate Buy rating; the consensus price target is $58.83.
• Rapport Therapeutics recently reported a narrower-than-expected loss and stronger revenue, posting -$0.42 EPS versus the expected -$0.56 and $20 million in revenue versus estimates of $7.5 million.

Sofinnova Investments Inc. decreased its position in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,904,408 shares of the company's stock after selling 43,171 shares during the period. Rapport Therapeutics makes up approximately 2.4% of Sofinnova Investments Inc.'s holdings, making the stock its 12th biggest position. Sofinnova Investments Inc. owned 4.00% of Rapport Therapeutics worth $57,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock valued at $70,000 after acquiring an additional 905 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 in the last quarter. Finally, Creative Planning acquired a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $121,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Wells Fargo & Company raised their target price on shares of Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, BTIG Research increased their price target on shares of Rapport Therapeutics from $53.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 21st. One investment 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. According to MarketBeat, Rapport Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $58.83.

Rapport Therapeutics Trading Down 0.4%

RAPP opened at $38.26 on Tuesday. The stock has a market capitalization of $1.83 billion, a PE ratio of -14.72 and a beta of 0.97. Rapport Therapeutics, Inc. has a 1-year low of $10.51 and a 1-year high of $42.27. The firm has a 50-day moving average price of $36.49 and a two-hundred day moving average price of $31.42.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $7.50 million. On average, research analysts predict that Rapport Therapeutics, Inc. will post -3.08 EPS for the current year.

Insider Activity at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction that occurred on 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 sale, the insider owned 6,280,525 shares in the company, valued at $251,535,026.25. The trade was a 0.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of Rapport Therapeutics stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the sale, the insider owned 246,426 shares of the company's stock, valued at approximately $9,854,575.74. This represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 895,158 shares of company stock valued at $35,908,941. 12.48% of the stock is owned by corporate insiders.

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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