Rapport Therapeutics (NASDAQ:RAPP) Stock Price Target Cut by UBS Group

Key Points

• UBS cut its price target on Rapport Therapeutics to $64 from $71 but maintained a Buy rating; the new target implies 169.81% upside from the prior close.
• Analyst views are mixed, though the consensus rating is Moderate Buy with an average target of $65.91; one analyst rates the stock Strong Buy, 14 Buy, and one Sell.
• Rapport reported a quarterly loss of $0.84 per share, narrower than analysts’ expected loss of $1.20. Insiders have also bought about $22 million of shares over the past three months.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) had its price objective dropped by investment analysts at UBS Group from $71.00 to $64.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's target price would indicate a potential upside of 169.81% from the company's previous close.

RAPP has been the subject of several other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Thursday, October 15th. Wall Street Zen downgraded Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. JonesTrading raised their price objective on Rapport Therapeutics from $50.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Guggenheim lowered their price objective on Rapport Therapeutics from $70.00 to $66.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Raymond James Financial set a $73.00 price objective on Rapport Therapeutics in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.91.

Rapport Therapeutics Price Performance

Shares of RAPP stock opened at $23.72 on Thursday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.48 and a beta of 1.40. Rapport Therapeutics has a 1 year low of $22.06 and a 1 year high of $52.93. The firm has a fifty day moving average price of $34.68 and a 200-day moving average price of $35.53.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.84) EPS for the quarter, topping analysts' consensus estimates of ($1.20) by $0.36. Equities research analysts expect that Rapport Therapeutics will post -4.08 EPS for the current year.

Insider Buying and Selling

In other Rapport Therapeutics news, Director Steven M. Paul purchased 35,714 shares of the firm's stock in a transaction on Thursday, October 22nd. The shares were acquired at an average cost of $27.28 per share, with a total value of $974,277.92. Following the completion of the acquisition, the director directly owned 77,380 shares in the company, valued at $2,110,926.40. The trade was a 85.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Maraganore acquired 9,411 shares of the stock in a transaction dated Thursday, October 22nd. The stock was acquired at an average price of $26.45 per share, for a total transaction of $248,920.95. Following the completion of the transaction, the director directly owned 9,411 shares of the company's stock, valued at approximately $248,920.95. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 1,031,174 shares of company stock worth $22,023,898 and have sold 97,976 shares worth $4,391,729. 12.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new stake in shares of Rapport Therapeutics in the first quarter worth about $30,000. Sterling Capital Management LLC grew its holdings in Rapport Therapeutics by 597.9% during the 3rd quarter. Sterling Capital Management LLC now owns 984 shares of the company's stock valued at $33,000 after buying an additional 843 shares in the last quarter. State of Wyoming purchased a new position in Rapport Therapeutics during the 2nd quarter valued at approximately $65,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Rapport Therapeutics in the 3rd quarter worth approximately $82,000. Finally, Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $116,000.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company's approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport's lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.

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