Vanguard Group Inc. Acquires 191,219 Shares of Rapport Therapeutics, Inc. $RAPP

Key Points

• Vanguard increased its stake in Rapport Therapeutics by 11.8% in the fourth quarter, adding 191,219 shares and bringing its total holdings to 1,817,757 shares valued at about $55.2 million.
• Wall Street sentiment is mostly positive, with two Strong Buy ratings and seven Buy ratings, giving the stock a consensus “Buy” and an average target price of $54.83.
• Recent performance and insider activity were mixed: Rapport beat quarterly EPS and revenue estimates, but insiders sold 898,016 shares over the last 90 days, while the stock was trading at $37.07, below its 12-month high of $42.27.

Vanguard Group Inc. grew its holdings in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) by 11.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,817,757 shares of the company's stock after buying an additional 191,219 shares during the period. Vanguard Group Inc. owned approximately 3.81% of Rapport Therapeutics worth $55,151,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of RAPP. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics during the 3rd quarter worth approximately $43,000. Strs Ohio boosted its holdings in shares of Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company's stock worth $62,000 after buying an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after buying an additional 905 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after buying an additional 4,582 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $121,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RAPP. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. BTIG Research restated a "buy" rating and set a $53.00 price objective on shares of Rapport Therapeutics in a report on Friday, May 8th. Truist Financial raised Rapport Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th. TD Cowen reiterated a "buy" rating on shares of Rapport Therapeutics in a report on Monday, March 9th. Finally, Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $54.83.

Insider Transactions at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 426,005 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $40.32, for a total value of $17,176,521.60. Following the transaction, the insider directly owned 6,709,228 shares in the company, valued at $270,516,072.96. This trade represents a 5.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Bredt sold 8,500 shares of the stock in a transaction on 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 transaction, the insider owned 387,075 shares in the company, valued at approximately $11,232,916.50. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 898,016 shares of company stock valued at $35,790,445 in the last 90 days. 13.57% of the stock is currently owned by company insiders.

Rapport Therapeutics Stock Down 2.3%

Shares of RAPP opened at $37.07 on Friday. Rapport Therapeutics, Inc. has a 12-month low of $7.73 and a 12-month high of $42.27. The business's fifty day moving average is $33.13 and its 200 day moving average is $29.83. The stock has a market cap of $1.77 billion, a P/E ratio of -14.26 and a beta of 0.82.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. On average, analysts expect that Rapport Therapeutics, Inc. will post -3.18 EPS for the current year.

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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