Rapport Therapeutics, Inc. (NASDAQ:RAPP) Insider David Bredt Sells 8,500 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) insider David Bredt sold 8,500 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $14.00, for a total transaction of $119,000.00. Following the completion of the sale, the insider directly owned 435,142 shares in the company, valued at $6,091,988. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Bredt also recently made the following trade(s):

• On Tuesday, July 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $14.00, for a total transaction of $119,000.00.

Rapport Therapeutics Trading Up 1.7%

Shares of NASDAQ:RAPP traded up $0.25 on Friday, hitting $15.09. 27,631 shares of the company were exchanged, compared to its average volume of 165,708. Rapport Therapeutics, Inc. has a 1-year low of $6.43 and a 1-year high of $29.74. The stock's 50 day moving average price is $11.59 and its 200 day moving average price is $12.02. The firm has a market capitalization of $550.86 million and a P/E ratio of -4.37.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.09. On average, equities analysts predict that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in Rapport Therapeutics by 38.9% during the fourth quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock valued at $86,000 after purchasing an additional 1,352 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Rapport Therapeutics during the fourth quarter valued at $34,000. Deutsche Bank AG purchased a new stake in shares of Rapport Therapeutics during the fourth quarter worth about $41,000. JPMorgan Chase & Co. increased its stake in shares of Rapport Therapeutics by 77.8% during the fourth quarter. JPMorgan Chase & Co. now owns 7,170 shares of the company's stock worth $127,000 after purchasing an additional 3,137 shares in the last quarter. Finally, Corebridge Financial Inc. grew its stake in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock valued at $83,000 after acquiring an additional 3,653 shares in the last quarter.

Wall Street Analyst Weigh In

RAPP has been the topic of a number of recent research reports. JMP Securities reiterated a "market outperform" rating and set a $28.00 price objective on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Citizens Jmp assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, April 8th. They set a "mkt outperform" rating on the stock.

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.