Wall Street Zen Upgrades Rapport Therapeutics (NASDAQ:RAPP) to "Hold"

Key Points

• Rapport Therapeutics was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in investor sentiment.
• JMP Securities set a price target of $28.00, while HC Wainwright raised their target to $34.00 with a "buy" rating.
• The stock recently saw an increase of 2.4%, currently trading at $23.76, with a 52-week high of $42.27.

Wall Street Zen upgraded shares of Rapport Therapeutics (NASDAQ:RAPP - Free Report) from a sell rating to a hold rating in a report issued on Saturday.

Several other brokerages have also recently issued reports on RAPP. HC Wainwright boosted their price target on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, September 8th. JMP Securities reiterated a "market outperform" rating and set a $28.00 price target on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $35.33.

Rapport Therapeutics Stock Performance

Shares of NASDAQ RAPP traded up $1.05 during midday trading on Friday, hitting $27.35. 432,287 shares of the company traded hands, compared to its average volume of 1,577,211. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27. The stock has a 50-day moving average price of $17.10 and a 200 day moving average price of $12.82. The firm has a market cap of $998.28 million, a P/E ratio of -10.94 and a beta of 0.73.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly 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 expect that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insiders Place Their Bets

In other Rapport Therapeutics news, COO Cheryl Gault sold 5,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $38.33, for a total value of $191,650.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wendy B. Young acquired 3,500 shares of the business's stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $22.60 per share, for a total transaction of $79,100.00. Following the acquisition, the director owned 9,500 shares of the company's stock, valued at approximately $214,700. This trade represents a 58.33% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 30,500 shares of company stock worth $557,150. 13.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in RAPP. Deutsche Bank AG purchased a new stake in shares of Rapport Therapeutics during the fourth quarter valued at approximately $41,000. California State Teachers Retirement System grew 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 buying an additional 7,886 shares during the last quarter. GAMMA Investing LLC grew 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 buying an additional 9,198 shares during the last quarter. Catalyst Private Wealth LLC purchased a new stake in shares of Rapport Therapeutics during the first quarter valued at approximately $100,000. Finally, Rhumbline Advisers grew its holdings in shares of Rapport Therapeutics by 40.1% during the first quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock valued at $144,000 after buying an additional 4,109 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.