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

Key Points

• Insider activity: Rapport Therapeutics insider David Bredt sold 8,500 shares at an average price of $25.79, totaling $219,215, reducing his ownership by 2.03%.
• Recent trading performance: The company's stock fell 3.5%, trading at $24.87, while maintaining a market cap of approximately $907.71 million.
• Analyst ratings: Rapport Therapeutics holds a consensus rating of "Moderate Buy" with an average target price of $35.33, as per various analyst evaluations.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) insider David Bredt sold 8,500 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $25.79, for a total value of $219,215.00. Following the sale, the insider owned 409,642 shares of the company's stock, valued at approximately $10,564,667.18. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, August 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $15.00, for a total value of $127,500.00.

Rapport Therapeutics Trading Down 3.5%

RAPP traded down $0.91 on Thursday, reaching $24.87. The stock had a trading volume of 278,519 shares, compared to its average volume of 369,607. Rapport Therapeutics, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The firm has a 50-day moving average of $21.65 and a 200-day moving average of $15.08. The company has a market capitalization of $907.71 million, a price-to-earnings ratio of -9.95 and a beta of 1.68.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.87) by $0.12. Sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in Rapport Therapeutics during the first quarter worth approximately $2,039,000. Affinity Asset Advisors LLC acquired a new stake in Rapport Therapeutics during the second quarter worth approximately $2,270,000. Alliancebernstein L.P. grew its stake in Rapport Therapeutics by 4.1% during the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company's stock worth $13,129,000 after purchasing an additional 45,063 shares during the period. TD Asset Management Inc grew its stake in Rapport Therapeutics by 20.9% during the second quarter. TD Asset Management Inc now owns 196,870 shares of the company's stock worth $2,238,000 after purchasing an additional 34,052 shares during the period. Finally, Nuveen LLC acquired a new stake in Rapport Therapeutics during the first quarter worth approximately $219,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RAPP shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. HC Wainwright upped their target price on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Truist Financial began 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. Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, The Goldman Sachs Group raised Rapport Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.33.

About Rapport Therapeutics

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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