Rapport Therapeutics (NASDAQ:RAPP) Sets New 1-Year Low - Time to Sell?

Key Points

• Rapport Therapeutics shares fell to a new 52-week low, trading as low as $21.60 versus a prior close of $27.54. The stock is well below its 50-day and 200-day moving averages.
• Despite the decline, analysts maintain a generally positive view: the stock has a consensus “Buy” rating and an average price target of $68.36, though ratings range from “Strong Buy” to “Sell.”
• The company reported a quarterly loss of $1.19 per share, missing expectations by $0.07. Insider activity was mixed, with directors buying shares while executives sold; institutional investors also established significant positions.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report)'s stock price hit a new 52-week low on Wednesday. The company traded as low as $21.60 and last traded at $22.4750, with a volume of 264,765 shares traded. The stock had previously closed at $27.54.

Wall Street Analyst Weigh In

A number of brokerages have commented on RAPP. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Thursday, October 15th. Wells Fargo & Company cut their price objective on shares of Rapport Therapeutics from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 21st. William Blair started coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They issued an "outperform" rating for the company. Raymond James Financial reissued a "strong-buy" rating and set a $86.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Finally, Citigroup restated an "outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $68.36.

Rapport Therapeutics Price Performance

The stock's 50 day moving average is $38.19 and its two-hundred day moving average is $35.64. The firm has a market cap of $1.10 billion, a P/E ratio of -7.78 and a beta of 1.22.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). As a group, research analysts forecast that Rapport Therapeutics, Inc. will post -4.08 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other news, Director Steven M. Paul acquired 35,714 shares of Rapport Therapeutics stock in a transaction on Thursday, October 22nd. The shares were purchased at an average cost of $27.28 per share, for a total transaction of $974,277.92. Following the completion of the purchase, the director directly owned 77,380 shares of the company's stock, valued at approximately $2,110,926.40. This represents a 85.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer directly owned 486,108 shares in the company, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders purchased 61,694 shares of company stock valued at $1,664,818 and sold 97,976 shares valued at $4,391,729. Corporate insiders own 12.48% of the company's stock.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently bought and sold shares of the stock. TRV GP V LLC purchased a new position in shares of Rapport Therapeutics in the 2nd quarter worth about $261,709,477. ARCH Venture Management LLC purchased a new position in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $155,376,512. BlackRock Inc. bought a new stake in Rapport Therapeutics in the second quarter worth $112,500,000. Johnson & Johnson bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $74,360,823. Finally, TRV GP VI LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at $40,387,314.

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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