Y Intercept Hong Kong Ltd Makes New $1.12 Million Investment in Rapport Therapeutics, Inc. $RAPP

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in Rapport Therapeutics, buying 35,825 shares valued at about $1.12 million, or roughly 0.07% of the company.
• Other institutions also added to or started positions, including Geode Capital Management and UBS AM, suggesting continued institutional interest in the stock.
• Insider selling has been notable, with executives and major shareholders selling shares in recent months, even as the stock trades near its 52-week high and analysts maintain a Moderate Buy consensus with a $57.86 average price target.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 35,825 shares of the company's stock, valued at approximately $1,121,000. Y Intercept Hong Kong Ltd owned about 0.07% of Rapport Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after purchasing an additional 4,582 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Rapport Therapeutics during the 1st quarter valued at approximately $2,039,000. Rhumbline Advisers grew its holdings in Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock valued at $144,000 after buying an additional 4,109 shares in the last quarter. Geode Capital Management LLC increased its stake in Rapport Therapeutics by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock worth $3,789,000 after acquiring an additional 17,496 shares during the last quarter. Finally, Creative Planning bought a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $121,000.

Insider Activity

In other Rapport Therapeutics news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $40.05, for a total value of $743,808.60. Following the completion of the sale, the insider owned 6,280,525 shares of the company's stock, valued at $251,535,026.25. This trade represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Krishnaswamy Yeleswaram sold 20,225 shares of the firm's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $39.99, for a total transaction of $808,797.75. Following the completion of the sale, the insider directly owned 246,426 shares of the company's stock, valued at approximately $9,854,575.74. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 894,298 shares of company stock valued at $35,878,887 in the last 90 days. Company insiders own 12.48% of the company's stock.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock traded down $0.30 on Friday, reaching $41.75. The company had a trading volume of 435,479 shares, compared to its average volume of 424,052. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -16.06 and a beta of 0.94. The firm's 50-day moving average price is $38.00 and its two-hundred day moving average price is $32.76. Rapport Therapeutics, Inc. has a 1 year low of $13.43 and a 1 year high of $43.76.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to the consensus estimate of $7.50 million. As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -3.25 EPS for the current year.

Wall Street Analyst Weigh In

RAPP has been the subject of a number of research reports. BTIG Research increased their target price on Rapport Therapeutics from $53.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 21st. Leerink Partners initiated coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target on the stock. Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a "strong-buy" rating and a $66.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.86.

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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