Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Troy Ignelzi Acquires 5,500 Shares

Key Points

• CFO Troy Ignelzi purchased 5,500 shares of Rapport Therapeutics at an average price of $26.10, investing $143,550 and increasing his holdings by 55% to 15,500 shares.
• RAPP shares fell to $25.06, near their 12-month low, while the company reported a quarterly loss of $1.19 per share, missing estimates of $1.12.
• Analysts maintain a consensus “Buy” rating with a $68.36 price target, supported by positive Phase 2 results for RAP-219 in bipolar mania and plans to advance the drug into Phase 3 trials.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CFO Troy Ignelzi purchased 5,500 shares of Rapport Therapeutics stock in a transaction dated Wednesday, October 21st. The shares were purchased at an average cost of $26.10 per share, with a total value of $143,550.00. Following the acquisition, the chief financial officer owned 15,500 shares of the company's stock, valued at approximately $404,550. This trade represents a 55.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock traded down $4.31 during trading on Wednesday, hitting $25.06. 2,153,131 shares of the stock were exchanged, compared to its average volume of 401,858. The stock's fifty day moving average is $40.31 and its 200 day moving average is $39.13. The stock has a market cap of $1.20 billion, a PE ratio of -8.24 and a beta of 1.22. Rapport Therapeutics, Inc. has a 12 month low of $23.75 and a 12 month high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RAPP shares. TD Cowen restated a "buy" rating on shares of Rapport Therapeutics in a research note on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a research report on Thursday, October 15th. Leerink Partners assumed coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective for the company. Citigroup reissued an "outperform" rating on shares of Rapport Therapeutics in a report on Tuesday. Finally, UBS Group began coverage on Rapport Therapeutics in a report on Thursday, October 15th. They issued a "buy" rating and a $71.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $68.36.

More Rapport Therapeutics News

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

• Positive Sentiment: RAP-219 met the primary and secondary endpoints in a Phase 2 bipolar mania trial, producing statistically significant placebo-adjusted improvements at Week 3 in the YMRS total score and CGI-BP Severity of Mania score. Rapport Therapeutics Announces Positive Topline Results from its Phase 2 Trial
• Positive Sentiment: Rapport plans to advance RAP-219 into Phase 3 trials for bipolar mania, strengthening the development path for a potentially important new treatment mechanism. Rapport plans Phase III bipolar mania trials
• Positive Sentiment: Analysts raised their valuations following the results: JonesTrading increased its target to $82 and Raymond James raised its target to $86 while maintaining a Strong Buy rating. BTIG Research also lifted its target to $89, and HC Wainwright reaffirmed Buy with a $66 target.
• Positive Sentiment: Jefferies estimated RAP-219 could represent a potential $1 billion peak-sales opportunity if successfully developed and commercialized. Inside the $1 Billion Blockbuster Opportunity
• Neutral Sentiment: Although the trial achieved its stated goals, coverage described the benefit as relatively limited and noted that the data fell short of the more ambitious expectations some investors may have had. Rapport’s phase 2 bipolar win strikes chord with analysts
• Negative Sentiment: The stock’s decline following the news likely reflects profit-taking after its sharp initial move, along with concerns about valuation, execution risk, and the need for successful Phase 3 results before RAP-219 can generate commercial revenue. A recent article had characterized the shares as expensive after a substantial monthly decline. Rapport Therapeutics stock seems pricey

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RAPP. TRV GP V LLC bought a new stake in shares of Rapport Therapeutics during the second quarter valued at about $261,709,477. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics in the second quarter worth about $155,376,512. BlackRock Inc. acquired a new stake in Rapport Therapeutics in the second quarter worth about $112,500,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics in the second quarter worth about $74,360,823. Finally, TRV GP VI LLC bought a new position in Rapport Therapeutics in the 2nd quarter valued at about $40,387,314.

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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