Swedbank AB Buys Shares of 113,200 Rapport Therapeutics, Inc. $RAPP

Key Points

• Swedbank AB disclosed a new fourth-quarter stake in Rapport Therapeutics, buying 113,200 shares worth about $3.43 million, giving it roughly 0.24% ownership.
• Rapport Therapeutics reported better-than-expected quarterly results, posting EPS of ($0.42) versus estimates of ($0.56) and revenue of $20.0 million versus $7.5 million expected.
• Analysts remain mostly bullish on the stock, with a consensus Buy rating and average price target of $54.83, though some insiders have recently sold shares and insider ownership stands at 13.57%.

Swedbank AB bought a new stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 113,200 shares of the company's stock, valued at approximately $3,434,000. Swedbank AB owned 0.24% of Rapport Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Strs Ohio increased its position in shares of Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company's stock valued at $62,000 after buying an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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. Creative Planning increased its position in shares of Rapport Therapeutics by 12.8% in the third quarter. Creative Planning now owns 11,959 shares of the company's stock valued at $355,000 after buying an additional 1,357 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Rapport Therapeutics in the third quarter valued at $43,000. Finally, Two Sigma Investments LP increased its position in shares of Rapport Therapeutics by 8.9% in the third quarter. Two Sigma Investments LP now owns 21,500 shares of the company's stock valued at $639,000 after buying an additional 1,757 shares in the last quarter.

Rapport Therapeutics Price Performance

RAPP opened at $38.04 on Friday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -14.63 and a beta of 0.82. The business has a 50-day moving average of $32.08 and a two-hundred day moving average of $29.36. Rapport Therapeutics, Inc. has a 12 month low of $7.73 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) EPS for the quarter, beating 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. Equities research analysts anticipate that Rapport Therapeutics, Inc. will post -3.06 earnings per share for the current year.

Analyst Ratings Changes

RAPP has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Tuesday, April 21st. TD Cowen restated a "buy" rating on shares of Rapport Therapeutics in a research report on Monday, March 9th. Citigroup restated a "market outperform" rating on shares of Rapport Therapeutics in a research report on Tuesday, March 10th. Wells Fargo & Company raised their price target on Rapport Therapeutics from $43.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $54.83.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $29.02, for a total value of $246,670.00. Following the completion of the sale, the insider owned 387,075 shares in the company, valued at $11,232,916.50. The trade was a 2.15% decrease in their position. The transaction 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 dated Friday, April 17th. The shares were sold at an average price of $39.99, for a total value of $808,797.75. Following the completion of the sale, the insider owned 246,426 shares of the company's stock, valued at $9,854,575.74. This trade represents a 7.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 487,885 shares of company stock worth $19,319,002 over the last ninety days. Insiders own 13.57% 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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