Cormorant Asset Management (RAPP) discloses 5.56% ownership stake in Rapport

Rhea-AI Filing Summary

Cormorant Asset Management, LP and Bihua Chen report beneficial ownership of common stock of Rapport Therapeutics, Inc. in an amended Schedule 13G filing. They report beneficial ownership of 2,657,521 shares of common stock, representing 5.56% of the class.

The reporting persons have shared voting and dispositive power over all 2,657,521 shares and no sole voting or dispositive power. The ownership percentage is based on 47,826,929 shares of common stock outstanding as of May 4, 2026, as stated in Rapport’s Form 10-Q for the quarter ended March 31, 2026.

Key Figures

Shares beneficially owned: 2,657,521 shares Percent of class owned: 5.56% Shares outstanding: 47,826,929 shares +2 more

5 metrics

Shares beneficially owned 2,657,521 shares Common stock of Rapport Therapeutics beneficially owned by the reporting persons

Percent of class owned 5.56% Percentage of Rapport Therapeutics common stock class held by the reporting persons

Shares outstanding 47,826,929 shares Rapport Therapeutics common stock outstanding as of May 4, 2026

Shared voting power 2,657,521 shares Shares over which the reporting persons have shared power to vote or direct the vote

Shared dispositive power 2,657,521 shares Shares over which the reporting persons have shared power to dispose or direct disposition

Key Terms

beneficial owner, shared voting power, shared dispositive power, investment adviser, +1 more

5 terms

beneficial owner regulatory

"the beneficial owner of the shares reported herein"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power regulatory

"Shared Voting Power 2,657,521.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power regulatory

"Shared Dispositive Power 2,657,521.00"

investment adviser financial

"the investment adviser to certain funds (the "Cormorant Funds")"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

percent of class financial

"Percent of class: 5.56%"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of Rapport Therapeutics (RAPP) does Cormorant Asset Management report owning?

Cormorant Asset Management and Bihua Chen report beneficial ownership of 5.56% of Rapport Therapeutics’ common stock. This is based on 2,657,521 shares held versus 47,826,929 shares outstanding as of May 4, 2026.

How many Rapport Therapeutics (RAPP) shares are beneficially owned by Cormorant Asset Management?

Cormorant Asset Management and Bihua Chen report beneficial ownership of 2,657,521 shares of Rapport Therapeutics common stock. They report shared voting and dispositive power over all of these shares and no sole power.

What level of voting power does Cormorant Asset Management have in Rapport Therapeutics (RAPP)?

The reporting persons have shared voting power over 2,657,521 shares and no sole voting power. They also have shared dispositive power over the same number of shares and no sole dispositive power.

On what share count is Cormorant’s 5.56% ownership of Rapport (RAPP) based?

The 5.56% ownership calculation is based on 47,826,929 shares of Rapport Therapeutics common stock outstanding as of May 4, 2026, as reported in Rapport’s Form 10-Q for the quarter ended March 31, 2026.

Who are the reporting persons in the Rapport Therapeutics (RAPP) Schedule 13G/A amendment?

The reporting persons are Cormorant Asset Management, LP, a Delaware limited partnership and investment adviser to certain funds, and Bihua Chen. Both report beneficial ownership with respect to shares directly held by the Cormorant funds.

Does Cormorant Asset Management claim to be the beneficial owner of all reported Rapport (RAPP) shares for all purposes?

The filing states it should not be construed as an admission that any reporting person is, for purposes of Section 13 of the Exchange Act, the beneficial owner of all shares reported, limiting the scope of that status.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 02:05 PM Accepted by SEC EDGAR 08/14/2026 - 02:05 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Rapport Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

75383L102

(CUSIP Number)

06/30/2026

(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 2,657,521.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,657,521.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,657,521.00

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)

5.56 %

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 2,657,521.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,657,521.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,657,521.00

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)

5.56 %

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, 50th 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: 2,657,521
(b)	Percent of class: 5.56%
(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: 2,657,521
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2,657,521 The percentages reported herein with respect to the Reporting Persons' holdings are calculated based upon a statement in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, as filed with the Securities and Exchange Commission on May 7, 2026, that there were 47,826,929 shares of Common Stock of the Issuer outstanding as of May 4, 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:	08/14/2026

Bihua Chen

Signature:	/s/ Bihua Chen
Name/Title:	Bihua Chen
Date:	08/14/2026

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.