Walleye Capital LLC Purchases Shares of 102,163 Rapport Therapeutics, Inc. $RAPP

Key Points

• Walleye Capital initiated a position in Rapport Therapeutics by purchasing 102,163 shares valued at approximately $4.26 million, representing about 0.21% of the company. Several other institutional investors also increased or initiated holdings.
• Rapport Therapeutics shares opened at $47.42, near their 52-week high of $49.50, but the company reported a quarterly loss of $1.19 per share, missing estimates by $0.07. Analysts expect a full-year loss of $4.09 per share.
• Wall Street remains broadly positive, with an average “Moderate Buy” rating and a $61.57 price target; however, insiders have sold 72,281 shares worth approximately $3.27 million over the past 90 days.

Walleye Capital LLC acquired a new position in Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 102,163 shares of the company's stock, valued at approximately $4,257,000. Walleye Capital LLC owned about 0.21% of Rapport Therapeutics at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RAPP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 valued at $99,000 after acquiring an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Rapport Therapeutics during the first quarter valued at $2,039,000. Rhumbline Advisers raised its stake in Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock valued at $144,000 after purchasing an additional 4,109 shares in the last quarter. Geode Capital Management LLC lifted its position in Rapport Therapeutics by 5.5% during the second quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock valued at $3,789,000 after purchasing an additional 17,496 shares during the last quarter. Finally, Creative Planning bought a new position in Rapport Therapeutics during the second quarter valued at $121,000.

Rapport Therapeutics Stock Up 0.1%

NASDAQ RAPP opened at $47.42 on Friday. Rapport Therapeutics, Inc. has a 52 week low of $13.86 and a 52 week high of $49.50. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -15.60 and a beta of 0.97. The company has a fifty day moving average of $40.89 and a two-hundred day moving average of $35.28.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its 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). Equities research analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 28,958 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer directly owned 486,108 shares in the company, valued at approximately $23,338,045.08. This represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $40.05, for a total transaction of $743,808.60. Following the completion of the sale, the insider directly owned 6,280,525 shares in the company, valued at $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 72,281 shares of company stock valued at $3,269,892. 12.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RAPP has been the topic of a number of research reports. HC Wainwright boosted their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday. Citigroup reaffirmed a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Truist Financial began coverage on Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price target for the company. William Blair assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They set an "outperform" rating on the stock. Finally, Leerink Partners assumed 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.57.

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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