Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $44.00 price objective on the stock.

RAPP has been the topic of several other research reports. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright boosted their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, September 8th. JMP Securities restated a “market outperform” rating and issued a $28.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Rapport Therapeutics has an average rating of “Buy” and a consensus price target of $35.33.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock opened at $26.19 on Tuesday. The firm’s 50-day simple moving average is $16.61 and its 200-day simple moving average is $12.58. The firm has a market cap of $955.94 million, a P/E ratio of -10.48 and a beta of 0.73. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.12. On average, equities analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Wendy B. Young bought 3,500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were purchased at an average price of $22.60 per share, with a total value of $79,100.00. Following the completion of the purchase, the director owned 9,500 shares of the company’s stock, valued at $214,700. This represents a 58.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Cheryl Gault sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $6,590,000.24. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,500 shares of company stock valued at $557,150 in the last 90 days. 13.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in Rapport Therapeutics during the 4th quarter worth $41,000. Corebridge Financial Inc. raised its position in shares of Rapport Therapeutics by 79.1% during the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after purchasing an additional 3,653 shares during the period. California State Teachers Retirement System raised its position in shares of Rapport Therapeutics by 1,151.2% during the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company’s stock worth $152,000 after purchasing an additional 7,886 shares during the period. GAMMA Investing LLC raised its position in shares of Rapport Therapeutics by 91,980.0% during the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company’s stock worth $918,000 after purchasing an additional 9,198 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after purchasing an additional 4,582 shares during the period.

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.