Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Insider Sells 8,500 Shares of 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 stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.00, for a total value of $127,500.00. Following the transaction, the insider owned 426,642 shares of the company's stock, valued at $6,399,630. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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

Rapport Therapeutics Trading Down 1.1%

Shares of RAPP stock traded down $0.16 on Friday, hitting $14.77. 182,176 shares of the stock were exchanged, compared to its average volume of 152,757. The firm has a market capitalization of $539.11 million, a PE ratio of -5.91 and a beta of 0.62. Rapport Therapeutics, Inc. has a one year low of $6.43 and a one year high of $29.74. The firm's 50 day moving average is $13.77 and its two-hundred day moving average is $11.89.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RAPP shares. JMP Securities reissued a "market outperform" rating and set a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th. HC Wainwright started coverage on Rapport Therapeutics in a report on Wednesday, August 6th. They set a "buy" rating and a $31.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $29.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG bought a new position in shares of Rapport Therapeutics in the fourth quarter worth approximately $41,000. Virtus ETF Advisers LLC bought a new position in shares of Rapport Therapeutics in the fourth quarter worth approximately $66,000. Corebridge Financial Inc. increased its position in shares of Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock worth $83,000 after purchasing an additional 3,653 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Rapport Therapeutics by 38.9% in the fourth quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock worth $86,000 after purchasing an additional 1,352 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after purchasing an additional 4,582 shares during the last quarter.

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.