Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider James Healy Purchases 969,480 Shares

Key Points

• Director James Healy bought 969,480 shares of Rapport Therapeutics at $21 each, investing approximately $20.36 million and increasing his direct ownership by 52.51% to 2.82 million shares.
• RAPP shares traded at $25.05, while the company’s latest quarterly loss of $1.19 per share was worse than analysts’ expected loss of $1.12. Analysts nevertheless maintain a consensus “Buy” rating with a $68.36 price target.
• Rapport is a clinical-stage biopharmaceutical company developing precision medicines for central nervous system disorders, including its lead candidate RAP-219 for focal epilepsy.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) Director James Healy bought 969,480 shares of the business's stock in a transaction dated Wednesday, October 28th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $20,359,080.00. Following the transaction, the director directly owned 2,815,707 shares of the company's stock, valued at approximately $59,129,847. This represents a 52.51% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Rapport Therapeutics Stock Performance

Shares of NASDAQ RAPP traded up $0.84 during midday trading on Friday, reaching $25.05. 923,307 shares of the company were exchanged, compared to its average volume of 1,355,918. Rapport Therapeutics, Inc. has a 1 year low of $22.06 and a 1 year high of $52.93. The stock has a fifty day simple moving average of $36.70 and a 200 day simple moving average of $35.57.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, equities research analysts expect that Rapport Therapeutics, Inc. will post -4.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

RAPP has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Thursday, October 15th. UBS Group assumed coverage on shares of Rapport Therapeutics in a report on Thursday, October 15th. They issued a "buy" rating and a $71.00 target price on the stock. Citigroup reiterated an "outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. BTIG Research increased their price target on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Rapport Therapeutics from $51.00 to $50.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $68.36.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RAPP. Mirae Asset Global Investments Co. Ltd. acquired a new position in Rapport Therapeutics during the third quarter worth $82,000. Profund Advisors LLC grew its holdings in Rapport Therapeutics by 420.8% in the third quarter. Profund Advisors LLC now owns 33,112 shares of the company's stock valued at $1,113,000 after purchasing an additional 26,754 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Rapport Therapeutics by 40.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,154 shares of the company's stock valued at $500,000 after purchasing an additional 4,342 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Rapport Therapeutics in the third quarter valued at $1,008,000. Finally, Sterling Capital Management LLC increased its position in shares of Rapport Therapeutics by 597.9% in the third quarter. Sterling Capital Management LLC now owns 984 shares of the company's stock valued at $33,000 after buying an additional 843 shares in the last quarter.

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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