Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Rapport Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from five research firms, with an average 1-year target price set at $35.33.
• Recent trading activity includes CEO Abraham Ceesay selling 40,835 shares for over $1 million, while Director Wendy B. Young increased her stake by purchasing 3,500 shares.
• The company's share price opened at $26.50, reflecting a 12-month low of $6.43 and a high of $42.27, with a current market cap of approximately $967.25 million.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $35.3333.

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Wednesday. The Goldman Sachs Group raised shares of Rapport Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. Truist Financial assumed coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They issued a "buy" rating and a $44.00 target price for the company. Finally, JMP Securities restated a "market outperform" rating and issued a $28.00 target price on shares of Rapport Therapeutics in a report on Tuesday, July 8th.

Rapport Therapeutics Stock Down 0.9%

Shares of NASDAQ RAPP opened at $26.50 on Friday. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27. The company has a market cap of $967.25 million, a price-to-earnings ratio of -10.60 and a beta of 1.68. The business has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $14.75.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.12. As a group, sell-side analysts expect that Rapport Therapeutics will post -3.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Abraham Ceesay sold 40,835 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $26.32, for a total transaction of $1,074,777.20. Following the completion of the sale, the chief executive officer directly owned 585,412 shares in the company, valued at approximately $15,408,043.84. This trade represents a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wendy B. Young purchased 3,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of $22.60 per share, with a total value of $79,100.00. Following the completion of the acquisition, the director owned 9,500 shares of the company's stock, valued at $214,700. This trade represents a 58.33% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 106,920 shares of company stock worth $2,568,524 over the last quarter. Company insiders own 13.57% of the company's stock.

Institutional Investors Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its stake in shares of Rapport Therapeutics by 180.6% in the first quarter. Deutsche Bank AG now owns 6,502 shares of the company's stock worth $65,000 after acquiring an additional 4,185 shares during the last quarter. Corebridge Financial Inc. grew its stake in Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock valued at $83,000 after purchasing an additional 3,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock valued at $99,000 after purchasing an additional 4,582 shares in the last quarter. MetLife Investment Management LLC grew its stake in Rapport Therapeutics by 90.2% in the first quarter. MetLife Investment Management LLC now owns 10,863 shares of the company's stock valued at $109,000 after purchasing an additional 5,153 shares in the last quarter. Finally, Creative Planning acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at about $121,000.

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.

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