TD Asset Management Inc Has $2.24 Million Stock Position in Rapport Therapeutics, Inc. $RAPP

Key Points

• TD Asset Management Inc increased its stake in Rapport Therapeutics by 20.9% during the second quarter, acquiring a total of 196,870 shares valued at approximately $2.24 million.
• Several institutional investors have also raised their positions in Rapport Therapeutics, with notable increases from UBS, Charles Schwab, and Bank of New York Mellon.
• Analysts have mixed views on the stock, with target prices ranging from $28.00 to $44.00 and ratings varying from "Strong Buy" to "Sell".

TD Asset Management Inc grew its position in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 20.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 196,870 shares of the company's stock after buying an additional 34,052 shares during the period. TD Asset Management Inc owned 0.54% of Rapport Therapeutics worth $2,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RAPP. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rapport Therapeutics in the first quarter valued at approximately $2,039,000. Charles Schwab Investment Management Inc. lifted its holdings in Rapport Therapeutics by 23.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company's stock valued at $912,000 after buying an additional 17,459 shares during the period. Bank of New York Mellon Corp lifted its holdings in Rapport Therapeutics by 77.7% in the first quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company's stock valued at $356,000 after buying an additional 15,514 shares during the period. Swiss National Bank lifted its holdings in Rapport Therapeutics by 77.2% in the first quarter. Swiss National Bank now owns 31,900 shares of the company's stock valued at $320,000 after buying an additional 13,900 shares during the period. Finally, Nuveen LLC acquired a new position in Rapport Therapeutics in the first quarter valued at approximately $219,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on RAPP. JMP Securities reiterated a "market outperform" rating and issued a $28.00 target price on shares of Rapport Therapeutics in a report on Tuesday, July 8th. HC Wainwright raised their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group raised shares of Rapport Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. Finally, Truist Financial began coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They set a "buy" rating and a $44.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $35.33.

Insider Activity at Rapport Therapeutics

In related news, COO Cheryl Gault sold 5,000 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $38.33, for a total transaction of $191,650.00. Following the transaction, the chief operating officer directly owned 171,928 shares of the company's stock, valued at $6,590,000.24. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 40,835 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total transaction of $1,074,777.20. Following the transaction, the chief executive officer directly owned 585,412 shares in the company, valued at approximately $15,408,043.84. This represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,336 shares of company stock valued at $2,831,481 in the last ninety days. Insiders own 13.57% of the company's stock.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $26.78 on Wednesday. The firm's fifty day moving average is $22.52 and its 200-day moving average is $15.57. Rapport Therapeutics, Inc. has a 52 week low of $6.43 and a 52 week high of $42.27. The firm has a market cap of $977.47 million, a P/E ratio of -10.71 and a beta of 1.68.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, beating analysts' consensus estimates of ($0.87) by $0.12. As a group, sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

About Rapport Therapeutics

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.

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