Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives $35.33 Consensus PT from Analysts

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $46.50.

RAPP has been the topic of a number of research analyst reports. HC Wainwright raised their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the company a “buy” rating in a report on Monday, September 8th. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. The Goldman Sachs Group raised shares of Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Finally, Truist Financial initiated coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 target price on the stock.

Rapport Therapeutics Trading Up 1.2%

Shares of NASDAQ RAPP opened at $25.66 on Wednesday. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27. The company has a market cap of $936.59 million, a PE ratio of -9.47 and a beta of 1.64. The stock has a 50 day simple moving average of $25.48 and a 200-day simple moving average of $17.13.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.06. Sell-side analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 40,835 shares of Rapport Therapeutics stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total transaction of $1,074,777.20. Following the transaction, the chief executive officer directly owned 585,412 shares of the company’s stock, valued at $15,408,043.84. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy B. Young purchased 3,500 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the transaction, 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 disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 109,336 shares of company stock valued at $2,831,481 in the last quarter. Company insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the business. Strs Ohio increased its stake in Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares in the last quarter. Acuta Capital Partners LLC boosted 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 buying an additional 3,600 shares during the period. Corebridge Financial Inc. increased its position in shares of Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after acquiring an additional 3,653 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Rapport Therapeutics by 108.6% in the third quarter. New York State Common Retirement Fund now owns 7,300 shares of the company’s stock worth $217,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock valued at $144,000 after acquiring an additional 4,109 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.