UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in Rapport Therapeutics, Inc. $RAPP

Key Points

• UBS Asset Management cut its Rapport Therapeutics stake by 29.9% in the second quarter, selling 274,784 shares and retaining 644,082 shares worth approximately $26.8 million, or 1.34% of the company.
• Institutional activity was mixed: Johnson & Johnson and several funds initiated positions, while Dimensional Fund Advisors increased its holdings by 168.9%. Company insiders, including CEO Abraham Ceesay, also sold shares during the quarter.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $62.86, despite Rapport missing its latest quarterly EPS estimate and reporting a loss of $1.19 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 29.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 644,082 shares of the company's stock after selling 274,784 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.34% of Rapport Therapeutics worth $26,839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Johnson & Johnson bought a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $74,360,823. Swedbank AB bought a new position in shares of Rapport Therapeutics during the 4th quarter valued at approximately $3,434,000. Algert Global LLC bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at approximately $9,327,000. Walleye Capital LLC purchased a new position in shares of Rapport Therapeutics in the second quarter valued at $4,257,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock valued at $7,025,000 after purchasing an additional 141,011 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen lowered Rapport Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Leerink Partners started coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective on the stock. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. UBS Group reiterated a "strong-buy" rating on shares of Rapport Therapeutics in a report on Monday, August 17th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $75.00 target price on shares of Rapport Therapeutics in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $62.86.

Rapport Therapeutics Price Performance

RAPP stock opened at $47.65 on Friday. The company has a market capitalization of $2.29 billion, a PE ratio of -15.67 and a beta of 1.02. Rapport Therapeutics, Inc. has a 12 month low of $14.11 and a 12 month high of $52.93. The firm's 50-day moving average is $44.15 and its 200 day moving average is $37.51.

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

Insider Buying and Selling

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer directly owned 486,108 shares of the company's stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 73,034 shares of company stock worth $3,484,157. Company insiders own 12.48% of the company's stock.

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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