Rapport Therapeutics (NASDAQ:RAPP) Insider Krishnaswamy Yeleswaram Sells 404 Shares

Key Points

• Insider sale: Krishnaswamy Yeleswaram sold 404 Rapport Therapeutics shares for approximately $20,160, reducing his holdings by 0.16% to 246,022 shares.
• Stock and earnings: RAPP shares fell 2.5% to $47.85, while the company reported quarterly EPS of -$1.19, missing the consensus estimate of -$1.12.
• Analyst outlook remains positive: Despite one “sell” downgrade, most analysts rate the stock a Buy or Strong Buy, with a consensus price target of $62.86 compared with the current price.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) insider Krishnaswamy Yeleswaram sold 404 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $49.90, for a total value of $20,159.60. Following the sale, the insider owned 246,022 shares in the company, valued at $12,276,497.80. This trade represents a 0.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rapport Therapeutics Stock Down 2.5%

Shares of NASDAQ RAPP traded down $1.22 during midday trading on Thursday, hitting $47.85. The stock had a trading volume of 323,722 shares, compared to its average volume of 345,252. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -15.74 and a beta of 0.97. The company has a fifty day moving average price of $41.66 and a 200 day moving average price of $35.81. Rapport Therapeutics, Inc. has a 1-year low of $13.90 and a 1-year high of $49.90.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RAPP. Wall Street Zen downgraded shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Truist Financial began coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a "buy" rating and a $56.00 target price for the company. BTIG Research restated a "buy" rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research report on Wednesday. Leerink Partners began coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective on the stock. Finally, Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics currently has an average rating of "Buy" and a consensus target price of $62.86.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new position in Rapport Therapeutics during the 1st quarter worth $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics during the fourth quarter valued at about $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at about $43,000. State of Wyoming purchased a new position in Rapport Therapeutics in the second quarter worth $65,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after acquiring an additional 905 shares during the last quarter.

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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