Rapport Therapeutics (NASDAQ:RAPP) Upgraded by Wall Street Zen to “Hold” Rating

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other analysts have also recently issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and set a $28.00 price objective on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. HC Wainwright increased their price objective on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.

Rapport Therapeutics Stock Up 2.4%

NASDAQ:RAPP opened at $23.76 on Friday. The stock’s 50 day moving average price is $16.09 and its 200 day moving average price is $12.36. The company has a market capitalization of $867.24 million, a PE ratio of -9.50 and a beta of 0.73. Rapport Therapeutics has a 52-week low of $6.43 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.12. As a group, sell-side analysts anticipate that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insider Activity

In related news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.00, for a total value of $127,500.00. Following the completion of the transaction, the insider directly owned 426,642 shares of the company’s stock, valued at $6,399,630. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Cheryl Gault sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $38.33, for a total value of $191,650.00. Following the completion of the transaction, the chief operating officer directly owned 171,928 shares of the company’s stock, valued at $6,590,000.24. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $557,150 in the last three months. 13.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Rapport Therapeutics by 62.5% in the second quarter. Bank of America Corp DE now owns 12,127 shares of the company’s stock worth $138,000 after acquiring an additional 4,666 shares during the last quarter. Acuta Capital Partners LLC raised its holdings in shares of Rapport Therapeutics by 22.0% in the second quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock worth $227,000 after acquiring an additional 3,600 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Rapport Therapeutics by 4.1% in the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after acquiring an additional 45,063 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Rapport Therapeutics by 27.2% in the second quarter. The Manufacturers Life Insurance Company now owns 100,424 shares of the company’s stock worth $1,142,000 after acquiring an additional 21,493 shares during the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at $2,270,000.

Rapport Therapeutics Company Profile

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.