Rapport Therapeutics (NASDAQ:RAPP) Downgraded to Sell Rating by Wall Street Zen

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

Several other brokerages have also recently weighed in on RAPP. The Goldman Sachs Group raised shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. BTIG Research began coverage on shares of Rapport Therapeutics in a research note on Wednesday, November 19th. They issued a “buy” rating and a $47.00 price objective for the company. Citizens Jmp upped their target price on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Finally, Truist Financial started coverage on Rapport Therapeutics in a research report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $46.60.

Rapport Therapeutics Trading Up 2.8%

RAPP opened at $29.50 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -10.89 and a beta of 1.63. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27. The business’s fifty day simple moving average is $26.96 and its 200-day simple moving average is $19.42.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.06. On average, equities research analysts predict that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Activity

In other news, COO Cheryl Gault sold 5,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $38.33, for a total transaction of $191,650.00. Following the transaction, the chief operating officer directly owned 171,928 shares of the company’s stock, valued at approximately $6,590,000.24. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David Bredt sold 8,500 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $25.19, for a total value of $214,115.00. Following the sale, the insider owned 401,142 shares of the company’s stock, valued at approximately $10,104,766.98. This represents a 2.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,252 shares of company stock valued at $3,193,121 over the last three months. Company insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors have recently added to or reduced their stakes in RAPP. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics during the third quarter worth about $43,000. Strs Ohio boosted 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. Deutsche Bank AG boosted its stake in Rapport Therapeutics by 180.6% in the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock worth $65,000 after purchasing an additional 4,185 shares in the last quarter. Corebridge Financial Inc. increased its stake in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock valued at $83,000 after purchasing an additional 3,653 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $99,000 after purchasing an additional 4,582 shares in the last quarter.

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.