HC Wainwright Forecasts Strong Price Appreciation for Rapport Therapeutics (NASDAQ:RAPP) Stock

Key Points

• HC Wainwright has raised the target price for Rapport Therapeutics (NASDAQ:RAPP) from $31.00 to $34.00, indicating a potential upside of 136.77% from its current stock price.
• Rapport Therapeutics reported quarterly earnings of ($0.75) per share, surpassing estimates and showing positive traction in the market.
• Insider selling activity includes David Bredt selling 8,500 shares for a total of $127,500, leading to a 1.95% decrease in ownership.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) had its target price upped by equities researchers at HC Wainwright from $31.00 to $34.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price would suggest a potential upside of 136.77% from the company's current price.

Separately, JMP Securities reiterated a "market outperform" rating and issued a $28.00 price target on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $31.00.

Rapport Therapeutics Stock Down 6.4%

NASDAQ RAPP opened at $14.36 on Monday. Rapport Therapeutics has a 52-week low of $6.43 and a 52-week high of $29.74. The business's 50-day moving average price is $14.68 and its 200 day moving average price is $11.90. The firm has a market cap of $524.14 million, a P/E ratio of -5.74 and a beta of 0.71.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.12. As a group, analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Buying and Selling

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the company's 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 approximately $6,399,630. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 25,500 shares of company stock worth $365,500 over the last quarter. 13.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

A number of large investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Rapport Therapeutics by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock worth $86,000 after acquiring an additional 1,352 shares during the last quarter. Deutsche Bank AG acquired a new position in Rapport Therapeutics during the 4th quarter worth $41,000. California State Teachers Retirement System lifted its position in Rapport Therapeutics by 1,151.2% during the 4th quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock worth $152,000 after acquiring an additional 7,886 shares during the last quarter. GAMMA Investing LLC lifted its position in Rapport Therapeutics by 91,980.0% during the 1st quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock worth $918,000 after acquiring an additional 9,198 shares during the last quarter. Finally, Catalyst Private Wealth LLC acquired a new position in Rapport Therapeutics during the 1st quarter worth $100,000.

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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