Brokerages Set Rapport Therapeutics, Inc. (NASDAQ:RAPP) PT at $35.33

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has earned an average rating of “Buy” from the four ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.3333.

RAPP has been the subject of a number of research reports. JMP Securities restated a “market outperform” rating and set a $28.00 target price on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday. They set a “buy” rating and a $44.00 target price for the company. 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 report on Monday, September 8th. The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th.

Rapport Therapeutics Price Performance

Shares of RAPP opened at $27.35 on Tuesday. The firm has a market capitalization of $998.28 million, a PE ratio of -10.94 and a beta of 0.73. The company’s fifty day moving average price is $17.10 and its 200-day moving average price is $12.82. Rapport Therapeutics has a 1-year low of $6.43 and a 1-year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 at Rapport Therapeutics

In other news, Director Wendy B. Young purchased 3,500 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of $22.60 per share, with a total value of $79,100.00. Following the purchase, the director directly owned 9,500 shares in the company, valued at approximately $214,700. This represents a 58.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Cheryl Gault sold 5,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $38.33, for a total transaction of $191,650.00. Following the completion of the sale, the chief operating officer directly owned 171,928 shares of the company’s stock, valued at approximately $6,590,000.24. This trade represents a 2.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,500 shares of company stock worth $557,150. Insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of Rapport Therapeutics in the 4th quarter valued at approximately $41,000. Acuta Capital Partners LLC boosted its position in shares of Rapport Therapeutics by 22.0% during the 2nd quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock worth $227,000 after purchasing an additional 3,600 shares during the period. Corebridge Financial Inc. boosted its position in shares of Rapport Therapeutics by 79.1% during the 1st 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. Rhumbline Advisers boosted its position in shares of Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after purchasing an additional 4,109 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rapport Therapeutics by 86.4% during the 1st 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.