Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Paul Silva Buys 3,680 Shares

Key Points

• Director Paul Silva purchased 3,680 Rapport Therapeutics shares at an average price of $27.07, representing a total investment of approximately $99,618.
• RAPP shares rose 5.9% to $26.53 during Thursday trading, while the company remains unprofitable and recently reported quarterly EPS of negative $1.19, below consensus estimates.
• Analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $68.36, supported by positive Phase 2 results for RAP-219 and plans to advance the drug into Phase 3 trials.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) Director Paul Silva bought 3,680 shares of the stock in a transaction on Thursday, October 22nd. The stock was acquired at an average price of $27.07 per share, with a total value of $99,617.60. Following the completion of the acquisition, the director owned 3,680 shares of the company's stock, valued at $99,617.60. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rapport Therapeutics Stock Up 5.9%

RAPP traded up $1.47 during trading on Thursday, hitting $26.53. The company's stock had a trading volume of 1,453,606 shares, compared to its average volume of 407,078. The firm has a market capitalization of $1.27 billion, a P/E 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 announced 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). Equities research analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Key Rapport Therapeutics News

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 research firms have commented on RAPP. HC Wainwright restated a "buy" rating and issued a $66.00 price target on shares of Rapport Therapeutics in a report on Tuesday. Wolfe Research began coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They set an "outperform" rating and a $50.00 price objective on the stock. BTIG Research increased their price objective on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup restated an "outperform" rating on shares of Rapport Therapeutics in a research note on Tuesday. Finally, JonesTrading boosted their target price on Rapport Therapeutics from $50.00 to $82.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $68.36.

Institutional Trading of Rapport Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCentric Advisors LLC raised its holdings in Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company's stock worth $201,000 after buying an additional 408 shares during the last quarter. KBC Group NV bought a new position in shares of Rapport Therapeutics in the first quarter valued at $30,000. State of Wyoming bought a new position in shares of Rapport Therapeutics in the second quarter valued at $65,000. Swiss National Bank grew its holdings in shares of Rapport Therapeutics by 3.5% during the first quarter. Swiss National Bank now owns 56,500 shares of the company's stock valued at $1,768,000 after buying an additional 1,900 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics during the second quarter valued at about $116,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.