Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 7.3% - What's Next?

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) rose 7.3% during trading on Tuesday . The stock traded as high as $15.18 and last traded at $15.32. Approximately 19,244 shares traded hands during trading, a decline of 90% from the average daily volume of 188,488 shares. The stock had previously closed at $14.28.

Analyst Upgrades and Downgrades

RAPP has been the subject of several recent research reports. HC Wainwright assumed coverage on shares of Rapport Therapeutics in a report on Wednesday, August 6th. They set a "buy" rating and a $31.00 target price for the company. JMP Securities reiterated a "market outperform" rating and issued a $28.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, July 8th.

Rapport Therapeutics Stock Down 1.6%

The stock's 50-day simple moving average is $13.52 and its two-hundred day simple moving average is $12.00. The company has a market capitalization of $536.55 million, a price-to-earnings ratio of -5.88 and a beta of 0.62.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Insiders Place Their Bets

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $14.00, for a total transaction of $119,000.00. Following the completion of the transaction, the insider directly owned 435,142 shares in the company, valued at approximately $6,091,988. This represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.57% of the company's stock.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at about $41,000. Virtus ETF Advisers LLC acquired a new stake in Rapport Therapeutics during the fourth quarter worth about $66,000. Wells Fargo & Company MN increased its position in Rapport Therapeutics by 38.9% during the fourth quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock worth $86,000 after purchasing an additional 1,352 shares during the last quarter. JPMorgan Chase & Co. increased its position in Rapport Therapeutics by 77.8% during the fourth quarter. JPMorgan Chase & Co. now owns 7,170 shares of the company's stock worth $127,000 after purchasing an additional 3,137 shares during the last quarter. Finally, Corebridge Financial Inc. increased its position in Rapport Therapeutics by 79.1% during the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock worth $83,000 after purchasing an additional 3,653 shares during 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.