Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities initiated coverage on shares of Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) in a report released on Tuesday,Benzinga reports. The brokerage set a "market outperform" rating and a $28.00 price target on the stock. JMP Securities' target price points to a potential upside of 202.38% from the stock's previous close.

Separately, Citizens Jmp began coverage on shares of Rapport Therapeutics in a research report on Tuesday, April 8th. They set a "mkt outperform" rating for the company. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $32.67.

Rapport Therapeutics Price Performance

NASDAQ RAPP traded up $0.63 on Tuesday, hitting $9.26. The company had a trading volume of 121,600 shares, compared to its average volume of 179,539. The company's fifty day moving average price is $11.16 and its 200-day moving average price is $17.11. The company has a market capitalization of $337.95 million and a PE ratio of -0.67. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $29.74.

Insiders Place Their Bets

In other Rapport Therapeutics news, CFO Troy A. Ignelzi purchased 9,900 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $10.10 per share, with a total value of $99,990.00. Following the completion of the purchase, the chief financial officer now owns 9,900 shares in the company, valued at approximately $99,990. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Wendy B. Young acquired 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $10.21 per share, with a total value of $61,260.00. Following the purchase, the director now owns 6,000 shares in the company, valued at $61,260. This represents a ∞ increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. acquired a new position in Rapport Therapeutics in the 3rd quarter valued at about $1,498,000. The Manufacturers Life Insurance Company lifted its holdings in Rapport Therapeutics by 2.4% in the third quarter. The Manufacturers Life Insurance Company now owns 77,344 shares of the company's stock valued at $1,584,000 after acquiring an additional 1,828 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Rapport Therapeutics in the third quarter valued at approximately $34,000. MetLife Investment Management LLC purchased a new position in Rapport Therapeutics in the third quarter worth approximately $117,000. Finally, State Street Corp acquired a new stake in Rapport Therapeutics during the third quarter worth $1,189,000.

Rapport Therapeutics Company Profile

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.