Wall Street Zen Downgrades Rapport Therapeutics (NASDAQ:RAPP) to Sell

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

A number of other analysts have also commented on the stock. HC Wainwright boosted their price target 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. Truist Financial started coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price objective for the company. BTIG Research initiated coverage on shares of Rapport Therapeutics in a research report on Wednesday, November 19th. They set a “buy” rating and a $47.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Two 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. According to data from MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and an average target price of $46.60.

Rapport Therapeutics Trading Up 2.8%

Shares of RAPP opened at $29.50 on Friday. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27. The firm’s fifty day simple moving average is $26.96 and its two-hundred day simple moving average is $19.42. The stock has a market capitalization of $1.41 billion, a P/E ratio of -10.89 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. As a group, research analysts predict that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insider Activity

In other Rapport Therapeutics news, COO Cheryl Gault sold 5,000 shares of Rapport Therapeutics 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 transaction, the chief operating officer owned 171,928 shares of the company’s stock, valued at $6,590,000.24. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Abraham Ceesay sold 40,835 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 585,412 shares in the company, valued at $15,408,043.84. The trade was a 6.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,252 shares of company stock valued at $3,193,121 in the last three months. 13.57% of the stock is owned by company insiders.

Institutional Trading of Rapport Therapeutics

A number of hedge funds have recently bought and sold shares of RAPP. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics in the third quarter worth $43,000. Strs Ohio increased its position in shares of Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Rapport Therapeutics by 180.6% during 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 during the period. Corebridge Financial Inc. boosted its holdings in shares of Rapport Therapeutics by 79.1% in the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after buying an additional 3,653 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during 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.