Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives $35.33 Consensus PT from Brokerages

Key Points

• Analysts have given Rapport Therapeutics, Inc. a strong average rating of "Buy," with a 12-month price target of $35.33.
• Recent insider activity includes Director Wendy B. Young acquiring 3,500 shares at $22.60 each, increasing her position by 58.33%.
• Shares of Rapport Therapeutics saw a 1.4% increase, trading at $25.08 with a market capitalization of approximately $915.19 million.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) has been given a consensus rating of "Buy" by the four analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $35.3333.

A number of analysts have recently weighed in on RAPP shares. JMP Securities reaffirmed a "market outperform" rating and set a $28.00 price target on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. HC Wainwright raised their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday. They issued a "buy" rating and a $44.00 target price on the stock. Finally, The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research report on Friday, September 12th.

Rapport Therapeutics Stock Performance

Shares of RAPP stock traded down $0.99 during midday trading on Tuesday, hitting $26.36. 1,504,018 shares of the company were exchanged, compared to its average volume of 1,592,529. The firm has a market capitalization of $962.14 million, a P/E ratio of -10.54 and a beta of 0.73. The firm's 50 day moving average price is $17.33 and its two-hundred day moving average price is $12.93. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27.

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

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, Director Wendy B. Young purchased 3,500 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was purchased at an average price of $22.60 per share, with a total value of $79,100.00. Following the completion of the purchase, the director owned 9,500 shares of the company's stock, valued at approximately $214,700. The trade was a 58.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Cheryl Gault sold 5,000 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $38.33, for a total transaction of $191,650.00. Following the transaction, the chief operating officer directly owned 171,928 shares of the company's stock, valued at $6,590,000.24. The trade was a 2.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,920 shares of company stock worth $2,568,524 over the last ninety days. Insiders own 13.57% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the company. Deutsche Bank AG bought a new position in Rapport Therapeutics during the fourth quarter worth $41,000. Corebridge Financial Inc. grew its holdings in Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock worth $83,000 after purchasing an additional 3,653 shares during the period. California State Teachers Retirement System grew its holdings in Rapport Therapeutics by 1,151.2% in the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock worth $152,000 after purchasing an additional 7,886 shares during the period. GAMMA Investing LLC grew its holdings in Rapport Therapeutics by 91,980.0% in the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock worth $918,000 after purchasing an additional 9,198 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 worth $99,000 after purchasing an additional 4,582 shares during the period.

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.