Rapport Therapeutics (NASDAQ:RAPP) Trading Up 7.3% - Time to Buy?

Key Points

• Rapport Therapeutics (NASDAQ:RAPP) shares rose 7.3% during Tuesday's trading, closing at $15.32, with a notable drop in volume to 19,244 shares compared to the average of 188,488.
• Analysts have positive expectations for the stock, with JMP Securities maintaining a "market outperform" rating and a price target of $28.00, while HC Wainwright set a "buy" rating with a target of $31.00.
• The company's latest earnings report showed an EPS of ($0.75), beating estimates, and it has a market capitalization of $569.95 million with a price-to-earnings ratio of -6.25.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) shares were up 7.3% during trading on Tuesday . The stock traded as high as $15.18 and last traded at $15.32. Approximately 19,244 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 188,488 shares. The stock had previously closed at $14.28.

Analyst Ratings Changes

A number of research firms have recently commented on RAPP. JMP Securities reissued a "market outperform" rating and set a $28.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. HC Wainwright began coverage on Rapport Therapeutics in a research note on Wednesday, August 6th. They issued a "buy" rating and a $31.00 price target on the stock.

Rapport Therapeutics Stock Performance

The company has a 50 day moving average price of $13.31 and a 200 day moving average price of $11.94. The firm has a market cap of $569.95 million, a price-to-earnings ratio of -6.25 and a beta of 0.62.

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

Insider Transactions at Rapport Therapeutics

In related news, insider David Bredt sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $14.00, for a total transaction of $119,000.00. Following the transaction, the insider owned 435,142 shares in the company, valued at $6,091,988. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RAPP. Deutsche Bank AG acquired a new position in Rapport Therapeutics during the fourth quarter worth $41,000. Virtus ETF Advisers LLC acquired a new position in shares of Rapport Therapeutics in the fourth quarter worth $66,000. Corebridge Financial Inc. grew its position in shares of Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock valued at $83,000 after purchasing an additional 3,653 shares during the period. Wells Fargo & Company MN grew its position in shares of Rapport Therapeutics by 38.9% in the fourth quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock valued at $86,000 after purchasing an additional 1,352 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock valued at $99,000 after purchasing an additional 4,582 shares during the period.

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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