Profund Advisors LLC Buys 26,754 Shares of Rapport Therapeutics, Inc. $RAPP

Profund Advisors LLC raised its stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 420.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,112 shares of the company’s stock after purchasing an additional 26,754 shares during the quarter. Profund Advisors LLC owned 0.07% of Rapport Therapeutics worth $1,113,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RAPP. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the first quarter valued at about $30,000. Sterling Capital Management LLC increased its stake in Rapport Therapeutics by 597.9% during the third quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock valued at $33,000 after acquiring an additional 843 shares during the period. State of Wyoming acquired a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $65,000. Meeder Asset Management Inc. acquired a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $116,000. Finally, AlphaCentric Advisors LLC raised its holdings in Rapport Therapeutics by 6.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after acquiring an additional 408 shares in the last quarter.

Analyst Upgrades and Downgrades

RAPP has been the topic of several recent research reports. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. BTIG Research upped their target price on Rapport Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Wells Fargo & Company cut their target price on Rapport Therapeutics from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, October 15th. Finally, JonesTrading lifted their price target on shares of Rapport Therapeutics from $50.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rapport Therapeutics presently has an average rating of “Buy” and an average price target of $68.36.

Insider Activity at Rapport Therapeutics

In other news, Director John Maraganore bought 9,411 shares of Rapport Therapeutics stock in a transaction dated Thursday, October 22nd. The shares were bought at an average price of $26.45 per share, for a total transaction of $248,920.95. Following the purchase, the director owned 9,411 shares of the company’s stock, valued at approximately $248,920.95. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 486,108 shares in the company, valued at $23,338,045.08. This represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 1,031,174 shares of company stock valued at $22,023,898 and sold 97,976 shares valued at $4,391,729. Insiders own 12.48% of the company’s stock.

Rapport Therapeutics Stock Performance

Shares of RAPP opened at $25.44 on Wednesday. The company has a 50-day moving average price of $35.76 and a two-hundred day moving average price of $35.55. Rapport Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Analysts expect that Rapport Therapeutics, Inc. will post -4.08 EPS for the current fiscal year.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.