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

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 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 completion of the sale, the chief operating officer directly owned 171,928 shares in the company, valued at $6,590,000.24. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rapport Therapeutics Price Performance

RAPP traded down $5.63 during trading on Wednesday, hitting $22.40. The company had a trading volume of 6,078,067 shares, compared to its average volume of 316,551. The company has a market cap of $817.56 million, a PE ratio of -8.96 and a beta of 0.73. The business has a 50-day moving average of $15.42 and a 200-day moving average of $12.14. Rapport Therapeutics, Inc. has a 1-year low of $6.43 and a 1-year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, topping analysts' consensus estimates of ($0.87) by $0.12. Research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. HC Wainwright increased their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Monday. JMP Securities reissued a "market outperform" rating and set a $28.00 target price on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $31.00.

Institutional Trading of Rapport Therapeutics

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

About Rapport Therapeutics

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.

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