Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 2.3% - What's Next?

Key Points

• Rapport Therapeutics shares increased by 2.3%, trading at $27.06, whereas the daily trading volume reported a significant decline of 51% compared to the average.
• Analyst ratings reflect a mixed sentiment with one strong-buy, three buys, and one sell recommendation, giving an average rating of "Moderate Buy" with a consensus target price of $35.33.
• Insider activity indicated a purchase by Director Wendy B. Young of 3,500 shares, indicating confidence in the company's future, while COO Cheryl Gault decreased her holdings by selling 5,000 shares.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) shares rose 2.3% on Wednesday . The company traded as high as $27.33 and last traded at $27.06. Approximately 533,254 shares changed hands during mid-day 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

RAPP has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded Rapport Therapeutics to a "strong-buy" rating in a research report on Friday, September 12th. JMP Securities reaffirmed a "market outperform" rating and issued a $28.00 price target on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Truist Financial initiated coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price target on the stock. HC Wainwright upped their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Rapport Therapeutics Stock Performance

The firm's 50 day simple moving average is $20.48 and its 200-day simple moving average is $14.52. The company has a market capitalization 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 announced its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.12. As a group, equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, Director Wendy B. Young purchased 3,500 shares of the stock in a transaction dated Thursday, September 11th. The shares were acquired at an average cost of $22.60 per share, for a total transaction of $79,100.00. Following the acquisition, the director directly owned 9,500 shares in the company, valued at approximately $214,700. The trade was a 58.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Cheryl Gault sold 5,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $38.33, for a total transaction of $191,650.00. Following the transaction, the chief operating officer owned 171,928 shares in the company, valued at approximately $6,590,000.24. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,920 shares of company stock valued at $2,568,524. Insiders own 13.57% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. California State Teachers Retirement System grew its holdings in shares of Rapport Therapeutics by 1,151.2% during the 4th 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 in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 9,198 shares in the last quarter. Rhumbline Advisers boosted its holdings in Rapport Therapeutics by 40.1% in the first quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock worth $144,000 after purchasing an additional 4,109 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Rapport Therapeutics by 77.7% in the first quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company's stock worth $356,000 after purchasing an additional 15,514 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Rapport Therapeutics in the first quarter worth $155,000.

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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