Rapport Therapeutics (NASDAQ:RAPP) Given New $34.00 Price Target at HC Wainwright

Rapport Therapeutics (NASDAQ:RAPP) had its price target upped by HC Wainwright from $31.00 to $34.00 in a research report released on Monday, Marketbeat reports. HC Wainwright currently has a buy rating on the stock.

Separately, JMP Securities reissued a “market outperform” rating and issued a $28.00 price target on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.00.

Rapport Therapeutics Stock Up 119.2%

Shares of NASDAQ RAPP opened at $31.47 on Monday. The stock’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $12.03. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $42.27. The firm has a market capitalization of $1.15 billion, a P/E ratio of -12.59 and a beta of 0.71.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.12. As a group, research analysts anticipate that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $127,500.00. Following the transaction, the insider directly owned 426,642 shares in the company, valued at $6,399,630. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,500 shares of company stock worth $365,500 in the last quarter. 13.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Rapport Therapeutics in the first quarter worth approximately $2,039,000. Affinity Asset Advisors LLC bought a new stake in Rapport Therapeutics during the 2nd quarter valued at $2,270,000. Alliancebernstein L.P. boosted its position in Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock valued at $13,129,000 after buying an additional 45,063 shares during the period. TD Asset Management Inc grew its holdings in Rapport Therapeutics by 20.9% in the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after acquiring an additional 34,052 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Rapport Therapeutics in the 1st quarter worth $219,000.

About Rapport Therapeutics

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.