Rapport Therapeutics (NASDAQ:RAPP) COO Cheryl Gault Sells 5,000 Shares

Key Points

• Cheryl Gault, COO of Rapport Therapeutics, sold 5,000 shares of the company on September 8th for a total of $191,650, reducing her ownership by 2.83%.
• The stock of Rapport Therapeutics (NASDAQ:RAPP) experienced a significant drop to $22.40, down $5.63 during recent trading sessions.
• HC Wainwright boosted its target price for RAPP shares from $31.00 to $34.00 and rated the stock as a "buy," indicating a positive outlook among analysts.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) COO Cheryl Gault sold 5,000 shares of the company's 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 directly owned 171,928 shares in the company, valued at $6,590,000.24. The trade was a 2.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rapport Therapeutics Stock Performance

RAPP stock traded up $0.97 on Monday, hitting $24.73. 861,406 shares of the company were exchanged, compared to its average volume of 1,446,282. Rapport Therapeutics, Inc. has a twelve month low of $6.43 and a twelve month high of $42.27. The business's fifty day moving average is $16.09 and its two-hundred day moving average is $12.38.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.12. Sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HC Wainwright upped their price target on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, JMP Securities reissued a "market outperform" rating and issued a $28.00 price objective on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Rapport Therapeutics currently has a consensus rating of "Buy" and an average target price of $31.00.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Rapport Therapeutics by 62.5% during the 2nd quarter. Bank of America Corp DE now owns 12,127 shares of the company's stock valued at $138,000 after purchasing an additional 4,666 shares in the last quarter. Acuta Capital Partners LLC grew its holdings in Rapport Therapeutics by 22.0% during the 2nd quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company's stock valued at $227,000 after purchasing an additional 3,600 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company's stock valued at $13,129,000 after purchasing an additional 45,063 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Rapport Therapeutics by 27.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 100,424 shares of the company's stock valued at $1,142,000 after purchasing an additional 21,493 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Rapport Therapeutics during the 2nd quarter valued at $2,270,000.

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.