Rapport Therapeutics (NASDAQ:RAPP) Sees Strong Trading Volume After Analyst Upgrade

Key Points

• Rapport Therapeutics saw a surge in trading volume after HC Wainwright raised its price target from $31 to $34, contributing to the stock's last trading value of $28.87.
• Two analysts currently rate the stock as a Buy, with a consensus target price of $31.00, indicating positive sentiment among analysts.
• Insider David Bredt sold 8,500 shares at an average price of $15.00, reportedly decreasing his position by 1.95% while insiders collectively own 13.57% of the company's stock.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) shares saw unusually-strong trading volume on Tuesday after HC Wainwright raised their price target on the stock from $31.00 to $34.00. HC Wainwright currently has a buy rating on the stock. Approximately 457,117 shares were traded during mid-day trading, an increase of 67% from the previous session's volume of 274,396 shares.The stock last traded at $28.87 and had previously closed at $31.47.

Separately, JMP Securities reissued a "market outperform" rating and issued a $28.00 target price on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $31.00.

Insider Transactions at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $15.00, for a total transaction of $127,500.00. Following the completion of the sale, the insider owned 426,642 shares of the company's stock, valued at approximately $6,399,630. This represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 25,500 shares of company stock worth $365,500. 13.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Rapport Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Rapport Therapeutics during the 1st quarter worth approximately $155,000. GAMMA Investing LLC boosted its holdings in Rapport Therapeutics by 91,980.0% in the 1st quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock worth $918,000 after acquiring an additional 9,198 shares during the period. California State Teachers Retirement System boosted its holdings in Rapport Therapeutics by 1,151.2% in the 4th quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock worth $152,000 after acquiring an additional 7,886 shares during the period. Bank of New York Mellon Corp boosted its holdings in Rapport Therapeutics by 77.7% in the 1st quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company's stock worth $356,000 after acquiring an additional 15,514 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock worth $144,000 after acquiring an additional 4,109 shares during the period.

Rapport Therapeutics Stock Performance

The stock has a market cap of $1.04 billion, a PE ratio of -11.48 and a beta of 0.71. The stock has a fifty day simple moving average of $15.08 and a two-hundred day simple moving average of $12.03.

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

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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