Rapport Therapeutics Sees Unusually Large Options Volume (NASDAQ:RAPP)

Key Points

• Rapport Therapeutics experienced a significant increase in put options trading, with 2,401 contracts purchased, marking a 3,484% increase over the daily average.
• The stock price soared by 117.6% to $31.25, with a total of 11,756,941 shares traded, greatly exceeding its usual trading volume.
• Analysts provided mixed reviews with JMP Securities setting a price target at $28.00 and HC Wainwright increasing their target to $34.00, reflecting a general "Buy" rating for the stock.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 2,401 put options on the company. This is an increase of 3,484% compared to the typical volume of 67 put options.

Insider Buying and Selling

In other Rapport Therapeutics news, Director Wendy B. Young acquired 3,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of $22.60 per share, with a total value of $79,100.00. Following the acquisition, the director directly owned 9,500 shares of the company's stock, valued at $214,700. This represents a 58.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.00, for a total value of $127,500.00. Following the completion of the transaction, the insider directly owned 426,642 shares of the company's stock, 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. Insiders sold 30,500 shares of company stock valued at $557,150 in the last three months. 13.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently modified their holdings of RAPP. Deutsche Bank AG bought a new stake in shares of Rapport Therapeutics during the 4th quarter worth $41,000. Corebridge Financial Inc. boosted its stake in shares of Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock worth $83,000 after acquiring an additional 3,653 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Rapport Therapeutics by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock worth $86,000 after acquiring an additional 1,352 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after acquiring an additional 4,582 shares in the last quarter. Finally, Catalyst Private Wealth LLC purchased a new stake in shares of Rapport Therapeutics in the first quarter valued at $100,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RAPP. JMP Securities reissued a "market outperform" rating and issued a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Wall Street Zen raised Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, HC Wainwright increased their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Rapport Therapeutics has a consensus rating of "Buy" and an average price target of $31.00.

Rapport Therapeutics Price Performance

Shares of RAPP traded up $0.56 during trading hours on Friday, hitting $23.76. 1,667,178 shares of the company were exchanged, compared to its average volume of 1,370,216. The company has a market capitalization of $867.19 million, a PE ratio of -9.50 and a beta of 0.73. The firm has a fifty day simple moving average of $16.09 and a 200-day simple moving average of $12.36. Rapport Therapeutics has a one year low of $6.43 and a one year high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.12. Sell-side analysts expect that Rapport Therapeutics will post -3.65 EPS for the current year.

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.