Siren L.L.C. Lowers Stock Holdings in Rapport Therapeutics, Inc. $RAPP

Key Points

• Siren L.L.C. reduced its stake in Rapport Therapeutics by 9.5% in the first quarter, selling 67,000 shares and ending with 641,469 shares worth about $20.1 million.
• Several other institutional investors also adjusted positions in RAPP, while insider selling was notable: major shareholder Third Rock Ventures sold 271,495 shares in May, contributing to 428,703 shares sold by insiders over the past 90 days.
• Rapport Therapeutics posted a stronger-than-expected quarter, with EPS of -$0.42 versus estimates of -$0.56 and revenue of $20 million versus expectations of $7.5 million; analysts currently rate the stock Moderate Buy with an average price target of $57.86.

Siren L.L.C. lessened its stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 641,469 shares of the company's stock after selling 67,000 shares during the period. Siren L.L.C. owned 1.34% of Rapport Therapeutics worth $20,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RAPP. KBC Group NV acquired a new stake in Rapport Therapeutics during the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the fourth quarter valued at approximately $37,000. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics in the third quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. raised its stake 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 during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Rapport Therapeutics during the third quarter worth approximately $143,000.

Insider Buying and Selling at Rapport Therapeutics

In other news, major shareholder Rock Ventures V. L.P. Third sold 271,495 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $40.12, for a total value of $10,892,379.40. Following the completion of the transaction, the insider owned 6,437,733 shares in the company, valued at $258,281,847.96. This trade represents a 4.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 428,703 shares of company stock worth $17,215,252. Corporate insiders own 12.48% of the company's stock.

Rapport Therapeutics Price Performance

Rapport Therapeutics stock opened at $41.38 on Friday. Rapport Therapeutics, Inc. has a 1-year low of $13.62 and a 1-year high of $44.28. The company has a market cap of $1.98 billion, a PE ratio of -15.92 and a beta of 0.94. The stock's 50 day moving average price is $38.69 and its 200 day moving average price is $33.46.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $20.00 million during the quarter, compared to analysts' expectations of $7.50 million. On average, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -3.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective on the stock. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Citigroup restated a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a report on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 target price on the stock. Finally, Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.86.

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.

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