David Bredt Sells 8,500 Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) Stock

Key Points

• David Bredt, an insider at Rapport Therapeutics, sold 8,500 shares of the company's stock at an average price of $15.00, totaling $127,500.00, which reduced his ownership by 1.95%.
• Rapport Therapeutics recently reported an EPS of ($0.75) for the last quarter, exceeding the consensus estimate of ($0.87) by $0.12.
• HC Wainwright initiated coverage with a "buy" rating and a target price of $31.00 for Rapport Therapeutics, while JMP Securities restated a "market outperform" rating with a target of $28.00.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) insider David Bredt sold 8,500 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $127,500.00. Following the sale, the insider owned 426,642 shares of the company's stock, valued at approximately $6,399,630. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Bredt also recently made the following trade(s):

• On Tuesday, July 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $14.00, for a total transaction of $119,000.00.
• On Tuesday, July 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $14.00, for a total transaction of $119,000.00.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock traded down $0.11 during trading on Monday, hitting $14.59. 134,121 shares of the stock were exchanged, compared to its average volume of 188,394. The stock's fifty day moving average is $13.52 and its 200 day moving average is $11.94. The stock has a market cap of $532.54 million, a PE ratio of -5.84 and a beta of 0.62. Rapport Therapeutics, Inc. has a 12 month low of $6.43 and a 12 month high of $29.74.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released 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 fiscal year.

Analyst Ratings Changes

RAPP has been the subject of several recent research reports. HC Wainwright initiated coverage on shares of Rapport Therapeutics in a research note on Wednesday, August 6th. They set a "buy" rating and a $31.00 target price for the company. JMP Securities restated a "market outperform" rating and set a $28.00 price target on shares of Rapport Therapeutics in a research report on Tuesday, July 8th.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in Rapport Therapeutics by 947.6% in the fourth quarter. Legal & General Group Plc now owns 9,523 shares of the company's stock worth $169,000 after purchasing an additional 8,614 shares during the period. XTX Topco Ltd acquired a new stake in Rapport Therapeutics in the first quarter worth about $155,000. GAMMA Investing LLC lifted its holdings in Rapport Therapeutics by 91,980.0% in the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock worth $918,000 after purchasing an additional 9,198 shares during the period. California State Teachers Retirement System lifted its holdings in Rapport Therapeutics by 1,151.2% in the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock worth $152,000 after purchasing an additional 7,886 shares during the period. Finally, Barclays PLC lifted its holdings in Rapport Therapeutics by 43.8% in the fourth quarter. Barclays PLC now owns 18,497 shares of the company's stock worth $328,000 after purchasing an additional 5,634 shares during the period.

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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