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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $35.3333.

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. HC Wainwright raised their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. Truist Financial assumed coverage on Rapport Therapeutics in a research note on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 target price on shares of Rapport Therapeutics in a report on Tuesday, July 8th.

Rapport Therapeutics Price Performance

RAPP stock opened at $26.19 on Friday. The company has a market cap of $955.94 million, a P/E ratio of -10.48 and a beta of 1.68. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $42.27. The stock’s fifty day moving average price is $21.22 and its 200-day moving average price is $14.93.

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, analysts expect that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 40,835 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total value of $1,074,777.20. Following the transaction, the chief executive officer directly owned 585,412 shares of the company’s stock, valued at approximately $15,408,043.84. This trade represents a 6.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendy B. Young bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average cost of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the acquisition, the director owned 9,500 shares in the company, valued at $214,700. This trade represents a 58.33% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 89,920 shares of company stock valued at $2,330,524 in the last 90 days. 13.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently bought and sold shares of the stock. Nuveen LLC bought a new position in Rapport Therapeutics in the 1st quarter worth $219,000. XTX Topco Ltd bought a new stake in Rapport Therapeutics during the first quarter valued at about $155,000. GAMMA Investing LLC raised its holdings in Rapport Therapeutics by 91,980.0% during the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company’s stock valued at $918,000 after acquiring an additional 9,198 shares during the period. California State Teachers Retirement System raised its holdings in 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 valued at $152,000 after acquiring an additional 7,886 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Rapport Therapeutics by 77.7% during the first quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company’s stock valued at $356,000 after acquiring an additional 15,514 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.