Rapport Therapeutics (NASDAQ:RAPP) Director John Maraganore Purchases 9,411 Shares of Stock

Key Points

• Director John Maraganore purchased 9,411 Rapport Therapeutics shares at an average price of $26.45, investing approximately $248,921 and taking his holdings to 9,411 shares.
• RAPP shares rose to $26.53, but remain well below their 12-month high of $52.93. The company reported a quarterly EPS loss of $1.19, missing analysts’ expectations of a $1.12 loss.
• Analysts remain broadly bullish, with a consensus “Buy” rating and $68.36 price target, while the company advances lead drug candidate RAP-219 toward Phase 3 trials following positive Phase 2 bipolar-mania results.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) Director John Maraganore purchased 9,411 shares of the firm's stock in a transaction dated Thursday, October 22nd. The stock was acquired at an average cost of $26.45 per share, for a total transaction of $248,920.95. Following the completion of the purchase, the director owned 9,411 shares of the company's stock, valued at approximately $248,920.95. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Rapport Therapeutics Price Performance

RAPP traded up $1.47 on Thursday, reaching $26.53. 1,453,606 shares of the company's stock were exchanged, compared to its average volume of 407,078. The stock has a market cap of $1.27 billion, a PE ratio of -8.73 and a beta of 1.22. Rapport Therapeutics, Inc. has a twelve month low of $23.75 and a twelve month high of $52.93. The stock's fifty day moving average price is $39.86 and its 200-day moving average price is $39.07.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). As a group, research analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Institutional Trading of Rapport Therapeutics

Several institutional investors have recently made changes to their positions in the company. Algert Global LLC acquired a new position in Rapport Therapeutics in the second quarter valued at approximately $9,327,000. Johnson & Johnson purchased a new position in Rapport Therapeutics in the second quarter worth approximately $74,360,823. Legal & General Group Plc acquired a new stake in Rapport Therapeutics during the second quarter worth $940,000. Walleye Capital LLC acquired a new stake in Rapport Therapeutics during the second quarter worth $4,257,000. Finally, Bank of New York Mellon Corp acquired a new stake in Rapport Therapeutics during the second quarter worth $3,426,000.

Rapport Therapeutics News Roundup

Here are the key news stories impacting Rapport Therapeutics this week:

• Positive Sentiment: RAP-219 is advancing to Phase 3. Rapport said the drug met both Phase 2 endpoints in bipolar mania, producing statistically significant placebo-adjusted improvements in manic symptoms and overall illness severity. The results strengthen the potential value of RAP-219 and expand its development opportunity beyond epilepsy. Rapport plans Phase III bipolar mania trials
• Positive Sentiment: Analysts continue to raise or maintain bullish targets. JonesTrading increased its price target from $50 to $82 and maintained a Buy rating. BTIG Research also raised its target, while HC Wainwright reaffirmed its Buy rating. Raymond James recently set an $86 target and maintained Strong Buy. The analyst activity suggests Wall Street sees substantial upside if RAP-219 succeeds in later-stage development. BTIG Research price target update HC Wainwright rating update
• Positive Sentiment: CFO Troy Ignelzi bought 5,500 shares for $143,550. The purchase increased his direct holdings by 55% to 15,500 shares, a potentially supportive signal of management confidence. SEC insider ownership filing
• Neutral Sentiment: The clinical results move RAP-219 toward Phase 3 but do not eliminate biotechnology risks, including trial execution, regulatory approval, funding needs, and eventual commercialization.
• Negative Sentiment: Some coverage characterized the trial outcome as narrower than investors initially hoped. Rapport also remains unprofitable, recently reporting quarterly EPS below consensus, which could limit gains if future clinical or financial results disappoint. Rapport bipolar data analysis

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RAPP shares. Guggenheim boosted their price objective on Rapport Therapeutics from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Tuesday. Wells Fargo & Company cut their target price on Rapport Therapeutics from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Wednesday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $86.00 target price on shares of Rapport Therapeutics in a research note on Tuesday. Wall Street Zen lowered Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, TD Cowen reissued a "buy" rating on shares of Rapport Therapeutics in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $68.36.

About Rapport Therapeutics

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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