Rapport Therapeutics (NASDAQ:RAPP) Issues Earnings Results, Beats Estimates By $0.36 EPS

Key Points

• Rapport Therapeutics reported a quarterly loss of $0.84 per share, beating the consensus estimate of a $1.20 loss by $0.36.
• Analysts maintain a broadly positive view: the stock has an average rating of “Buy” and an average price target of $67.18; BTIG raised its target to $89.
• Insider activity was mixed: Director James Healy bought 969,480 shares for about $20.4 million, while CEO Abraham Ceesay sold 28,958 shares.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.36, FiscalAI reports.

Rapport Therapeutics Price Performance

Shares of NASDAQ RAPP traded up $0.53 during trading on Wednesday, hitting $25.97. The stock had a trading volume of 606,540 shares, compared to its average volume of 463,544. Rapport Therapeutics has a 12 month low of $22.06 and a 12 month high of $52.93. The firm has a fifty day moving average of $35.76 and a two-hundred day moving average of $35.55. The company has a market capitalization of $1.25 billion, a PE ratio of -8.56 and a beta of 1.40.

Analyst Ratings Changes

Several research firms have recently commented on RAPP. Citigroup restated an "outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, October 20th. BTIG Research increased their target price on Rapport Therapeutics from $75.00 to $89.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Wolfe Research started coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They issued an "outperform" rating and a $50.00 price target for the company. HC Wainwright restated a "buy" rating and set a $66.00 price target on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Finally, Raymond James Financial set a $73.00 price objective on shares of Rapport Therapeutics in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $67.18.

Insider Transactions at Rapport Therapeutics

In other Rapport Therapeutics news, Director James Healy bought 969,480 shares of Rapport Therapeutics stock in a transaction dated Wednesday, October 28th. The stock was bought at an average cost of $21.00 per share, with a total value of $20,359,080.00. Following the completion of the acquisition, the director directly owned 2,815,707 shares in the company, valued at approximately $59,129,847. The trade was a 52.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer directly owned 486,108 shares of the company's stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 1,031,174 shares of company stock worth $22,023,898 and have sold 97,976 shares worth $4,391,729. 12.48% of the stock is currently owned by corporate insiders.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company's approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport's lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.

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