Rapport Therapeutics, Inc. (NASDAQ:RAPP) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts are broadly bullish: Fifteen firms rate Rapport Therapeutics “Moderate Buy”—13 buy, one strong buy and one sell—with an average 12-month price target of $64.50. BTIG raised its target to $89.
• Insiders were net buyers: Company insiders bought about 1.03 million shares worth $22 million in the last quarter, versus sales of roughly 46,500 shares; insiders own 12.48% of the stock.
• Rapport reported a quarterly loss of $0.84 per share, narrower than analysts’ expected loss of $1.20. Shares recently traded at $26.15, within a 52-week range of $22.06 to $52.93.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $64.50.

Several analysts have recently weighed in on the stock. BTIG Research increased their price target on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the company a "buy" rating in a research note on Tuesday, October 20th. TD Cowen reiterated a "buy" rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. Raymond James Financial set a $73.00 target price on Rapport Therapeutics in a research note on Wednesday, November 4th. Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, November 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Thursday, October 15th.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, Director John Maraganore acquired 9,411 shares of the business's stock in a transaction that occurred on Thursday, October 22nd. The stock was purchased at an average cost of $26.45 per share, with a total value of $248,920.95. Following the transaction, the director owned 9,411 shares of the company's stock, valued at $248,920.95. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven M. Paul acquired 35,714 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 77,380 shares in the company, valued at approximately $2,110,926.40. The trade was a 85.71% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 1,031,174 shares of company stock worth $22,023,898 and sold 46,477 shares worth $1,958,709. 12.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in RAPP. TRV GP V LLC acquired a new stake in Rapport Therapeutics in the 2nd quarter valued at approximately $261,709,477. ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics in the second quarter valued at approximately $155,376,512. BlackRock Inc. acquired a new position in Rapport Therapeutics during the second quarter worth $112,500,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the second quarter worth $74,360,823. Finally, TRV GP VI LLC acquired a new position in Rapport Therapeutics during the second quarter worth $40,387,314.

Rapport Therapeutics Stock Up 1.2%

Shares of RAPP traded up $0.30 during midday trading on Friday, reaching $26.15. The company had a trading volume of 315,634 shares, compared to its average volume of 1,639,416. Rapport Therapeutics has a 1-year low of $22.06 and a 1-year high of $52.93. The firm has a 50 day simple moving average of $31.93 and a 200-day simple moving average of $35.51. The stock has a market cap of $1.55 billion, a PE ratio of -8.25 and a beta of 1.40.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.20) by $0.36. As a group, sell-side analysts anticipate that Rapport Therapeutics will post -3.34 earnings per share for the current fiscal year.

Rapport Therapeutics Company Profile

Rapport Therapeutics is a Boston-based biotechnology company developing medicines for neurological and psychiatric disorders. Founded in 2022, the company focuses on small molecules designed to act on mechanisms that regulate the movement and function of proteins in the brain. Its research platform is intended to identify targets involved in neuronal signaling, including interactions that influence ion channels. Rapport's pipeline includes RAP-219, an investigational medicine that modulates AMPA receptors and is being developed for focal epilepsy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.