Rapport Therapeutics (NASDAQ:RAPP) Trading 4.3% Higher - Should You Buy?

Key Points

• Rapport Therapeutics' stock price increased by 4.3% to close at $29.16 amidst a significant drop in trading volume, down 86% from the average.
• Analysts have been bullish on Rapport Therapeutics, with upgrades resulting in a target price boost from $31.00 to $34.00 by HC Wainwright and a strong-buy rating by Goldman Sachs.
• Insider activity included Director Wendy B. Young purchasing 3,500 shares at $22.60 each, increasing her stake by 58.33%, while other insiders have sold shares recently.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report)'s stock price was up 4.3% during trading on Tuesday . The stock traded as high as $28.69 and last traded at $29.16. Approximately 49,667 shares traded hands during trading, a decline of 86% from the average daily volume of 361,960 shares. The stock had previously closed at $27.97.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RAPP. HC Wainwright boosted their price objective on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a report on Monday, September 8th. JMP Securities reiterated a "market outperform" rating and issued a $28.00 price target on shares of Rapport Therapeutics in a report on Tuesday, July 8th. The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. Wall Street Zen upgraded shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Truist Financial began coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They issued a "buy" rating and a $44.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $35.33.

Rapport Therapeutics Price Performance

The stock's 50-day moving average price is $18.75 and its 200 day moving average price is $13.70. The firm has a market cap of $1.08 billion, a P/E ratio of -11.86 and a beta of 0.71.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping analysts' consensus estimates of ($0.87) by $0.12. As a group, analysts forecast that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In other Rapport Therapeutics news, Director Wendy B. Young purchased 3,500 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director owned 9,500 shares of the company's stock, valued at approximately $214,700. The trade was a 58.33% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Bredt sold 8,500 shares of the company's stock in a transaction dated 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 transaction, the insider owned 426,642 shares in the company, valued at $6,399,630. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,920 shares of company stock valued at $2,568,524. 13.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RAPP. Deutsche Bank AG acquired a new stake in Rapport Therapeutics during the fourth quarter worth about $41,000. California State Teachers Retirement System boosted its stake in shares of 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 valued at $152,000 after purchasing an additional 7,886 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Rapport Therapeutics by 91,980.0% in the 1st quarter. GAMMA Investing LLC now owns 9,208 shares of the company's stock valued at $918,000 after purchasing an additional 9,198 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Rapport Therapeutics by 40.1% in the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock valued at $144,000 after purchasing an additional 4,109 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $356,000 after purchasing an additional 15,514 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.