Rapport Therapeutics (NASDAQ:RAPP) Now Covered by Analysts at HC Wainwright

Key Points

• HC Wainwright has initiated coverage on Rapport Therapeutics (NASDAQ:RAPP) with a "buy" rating and a price target of $31.00, indicating a potential upside of 114.83% from its current price.
• Insider David Bredt sold 8,500 shares of Rapport Therapeutics at an average price of $14.00, reducing his ownership in the company by 1.92%.
• Several institutional investors significantly increased their holdings in Rapport Therapeutics, including Legal & General Group Plc, which grew its stake by 947.6% during the fourth quarter.

Equities researchers at HC Wainwright began coverage on shares of Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $31.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 114.83% from the company's current price.

A number of other equities analysts also recently issued reports on the stock. Citizens Jmp started coverage on shares of Rapport Therapeutics in a report on Tuesday, April 8th. They set a "mkt outperform" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th.

Rapport Therapeutics Stock Up 2.8%

NASDAQ:RAPP opened at $14.43 on Wednesday. The company has a fifty day moving average of $12.85 and a 200-day moving average of $11.92. The firm has a market capitalization of $526.70 million, a P/E ratio of -4.18 and a beta of 0.62. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $29.74.

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

Insider Buying and Selling at Rapport Therapeutics

In other news, insider David Bredt sold 8,500 shares of the company's 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 sale, the insider directly owned 435,142 shares in the company, valued at $6,091,988. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its holdings in shares of Rapport Therapeutics by 947.6% during the fourth quarter. Legal & General Group Plc now owns 9,523 shares of the company's stock worth $169,000 after purchasing an additional 8,614 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Rapport Therapeutics during the fourth quarter worth about $34,000. GAMMA Investing LLC boosted its stake 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 buying an additional 9,198 shares in the last quarter. California State Teachers Retirement System boosted its stake 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 buying an additional 7,886 shares in the last quarter. Finally, Barclays PLC boosted its stake in Rapport Therapeutics by 43.8% in the fourth quarter. Barclays PLC now owns 18,497 shares of the company's stock worth $328,000 after buying an additional 5,634 shares in the last quarter.

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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