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

Walleye Capital LLC bought a new position in Rapport Therapeutics, Inc. (NASDAQ:RAPP) during the second quarter, HoldingsChannel.com reports. The fund bought 102,163 shares of the company’s stock, valued at approximately $4,257,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV bought a new position in shares of Rapport Therapeutics in the first quarter worth about $30,000. Meeder Asset Management Inc. purchased a new position in Rapport Therapeutics in the 4th quarter worth about $37,000. Russell Investments Group Ltd. bought a new stake in Rapport Therapeutics during the 3rd quarter valued at about $43,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 valued at $70,000 after buying an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after buying an additional 4,582 shares during the period.

Insider Buying and Selling at Rapport Therapeutics

In related news, major shareholder Rock Ventures V. L.P. Third sold 18,572 shares of Rapport Therapeutics stock in a transaction that occurred on 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 directly owned 6,280,525 shares in the company, valued at $251,535,026.25. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction that occurred 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 sale, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 72,281 shares of company stock valued at $3,269,892. Company insiders own 12.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RAPP. BTIG Research restated a “buy” rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 5th. Leerink Partners assumed coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price target for the company. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Truist Financial began coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, William Blair began coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.57.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock opened at $47.42 on Friday. Rapport Therapeutics, Inc. has a 1 year low of $13.86 and a 1 year high of $49.50. The firm’s 50-day moving average is $40.89 and its two-hundred day moving average is $35.28. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -15.60 and a beta of 0.97.

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

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.