Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 2.3% - Time to Buy?

Key Points

• Rapport Therapeutics' stock price increased by 2.3% to $27.06, but trading volume fell by 51% compared to its average, with only 533,254 shares exchanged.
• Analyst ratings are mixed, with a consensus of Moderate Buy and a price target of $35.33, as some firms upgraded their ratings while others maintained a sell rating.
• Insider selling activity has been noted, with CEO Abraham Ceesay and another insider offloading thousands of shares, indicating changes in personal investment strategies.

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) rose 2.3% during trading on Wednesday . The stock traded as high as $27.33 and last traded at $27.06. Approximately 533,254 shares traded hands during trading, a decline of 51% from the average daily volume of 1,090,137 shares. The stock had previously closed at $26.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RAPP shares. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. HC Wainwright raised their price objective on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Rapport Therapeutics Price Performance

The stock's 50 day simple moving average is $20.48 and its two-hundred day simple moving average is $14.52. The stock has a market cap of $987.69 million, a price-to-earnings ratio of -10.82 and a beta of 1.68.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted 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. As a group, analysts predict that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction 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 sale, the insider owned 426,642 shares in the company, valued at $6,399,630. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Abraham Ceesay sold 35,585 shares of Rapport Therapeutics stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total transaction of $936,597.20. Following the sale, the chief executive officer owned 46,144 shares in the company, valued at $1,214,510.08. This represents a 43.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,920 shares of company stock worth $2,568,524 over the last three months. 13.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Rapport Therapeutics during the first quarter valued at $219,000. XTX Topco Ltd bought a new position in shares of Rapport Therapeutics during the first quarter valued at $155,000. GAMMA Investing LLC lifted its holdings in shares of Rapport Therapeutics by 91,980.0% during the first quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock valued at $918,000 after acquiring an additional 9,198 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Rapport Therapeutics by 1,151.2% during the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company's stock valued at $152,000 after acquiring an additional 7,886 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Rapport Therapeutics by 77.7% during the first quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company's stock valued at $356,000 after acquiring an additional 15,514 shares during the period.

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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