Rapport Therapeutics, Inc. ownership update: Cormorant Asset Management, LP and Bihua Chen report beneficial ownership of 2,957,521 shares of common stock (representing 6.19% of the class).
The percentage is calculated using 47,792,943 shares outstanding as of March 2, 2026. This filing is Amendment No. 4 to the prior Schedule 13G statement.
Positive
None.
Negative
None.
Insights
Large institutional holder reports a 6.19% stake in Rapport Therapeutics.
Cormorant Asset Management, LP and reporting person Bihua Chen list 2,957,521 shares with shared voting and dispositive power. The filing cites 47,792,943 shares outstanding as of March 2, 2026 as the denominator used for the 6.19% calculation.
Because this is an amended Schedule 13G, it documents disclosed passive or investment-adviser holdings rather than an active control attempt; subsequent filings would show any material change in position.
Amendment clarifies reported beneficial ownership and power allocation.
The statement shows 0 sole voting power and 2,957,521 shared voting and dispositive power, indicating control is exercised jointly or on behalf of funds. The filing references a prior joint filing and is signed by Bihua Chen.
Regulatory posture: this is a routine disclosure under Section 13 reporting; watch for future amendments if holdings cross scheduling thresholds or change voting status.
Key Figures
Reported shares beneficially owned:2,957,521 sharesPercent of class:6.19%Shares outstanding used in calculation:47,792,943 shares
Percent of class6.19%Calculated using shares outstanding as of March 2, 2026
Shares outstanding used in calculation47,792,943 sharesShares outstanding as of March 2, 2026, cited from the 10-K
Key Terms
Schedule 13G/A, Beneficially owned, Shared dispositive power
3 terms
Schedule 13G/Aregulatory
"Amendment No. 4 to Schedule 13G statement"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficially ownedfinancial
"Amount beneficially owned: 2,957,521"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Shared dispositive powerregulatory
"Shared Dispositive Power 2,957,521.00"
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Rapport Therapeutics, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
75383L102
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
75383L102
1
Names of Reporting Persons
Cormorant Asset Management, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,957,521.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,957,521.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,957,521.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.19 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
75383L102
1
Names of Reporting Persons
Bihua Chen
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,957,521.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,957,521.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,957,521.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.19 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Rapport Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
99 High Street, Suite 2100, Boston, Massachusetts 02110
Item 2.
(a)
Name of person filing:
Cormorant Asset Management, LP
Bihua Chen
This statement is filed by (i) Cormorant Asset Management, LP, a Delaware limited partnership, and the investment adviser to certain funds (the "Cormorant Funds"), with respect to the shares directly held by the Cormorant Funds and (ii) Bihua Chen with respect to the shares directly held by the Cormorant Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares reported herein.
(b)
Address or principal business office or, if none, residence:
200 Clarendon Street, 52nd Floor
Boston, MA 02116
(c)
Citizenship:
Cormorant Asset Management, LP - Delaware
Bihua Chen - United States
(d)
Title of class of securities:
Common Stock, $0.001 par value per share
(e)
CUSIP No.:
75383L102
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
2,957,521
(b)
Percent of class:
6.19%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
2,957,521
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
2,957,521
The percentages reported herein with respect to the Reporting Persons' holdings are calculated based upon a statement in the Issuer's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the Securities and Exchange Commission on March 10, 2026, that there were 47,792,943 shares of Common Stock of the Issuer outstanding as of March 2, 2026.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Cormorant Asset Management, LP
Signature:
/s/ Bihua Chen
Name/Title:
Bihua Chen, Managing Member
Date:
05/15/2026
Bihua Chen
Signature:
/s/ Bihua Chen
Name/Title:
Bihua Chen
Date:
05/15/2026
Exhibit Information
Joint Filing Statement, incorporated by reference to the Joint Filing Statement included with the Schedule 13G filed by the Reporting Persons on June 20, 2024.
What stake does Cormorant Asset Management report in Rapport Therapeutics (RAPP)?
Cormorant Asset Management reports 2,957,521 shares, equal to 6.19% of outstanding common stock. The percentage uses 47,792,943 shares outstanding as of March 2, 2026, per the filing's cited 10-K figure.
Who are the reporting persons on the Schedule 13G/A for RAPP?
The reporting persons are Cormorant Asset Management, LP and Bihua Chen. The statement covers shares held by Cormorant Funds with reporting made on behalf of both entities.
Does the filing show sole voting or dispositive power for the reported shares?
No; the filing reports 0 sole voting power and 0 sole dispositive power. It lists 2,957,521 shared voting and 2,957,521 shared dispositive power for the reported shares.
What date is used to calculate the 6.19% ownership figure in the RAPP filing?
The percentage is calculated using the issuer's reported share count of 47,792,943 shares outstanding as of March 2, 2026, cited from the company's Annual Report on Form 10-K filed March 10, 2026.
Is this Schedule 13G/A a new filing or an amendment for RAPP?
This document is labeled Amendment No. 4 to a prior Schedule 13G filing. It also references an earlier joint filing dated June 20, 2024, incorporated by reference.
