Weiss Ratings Reaffirms Sell (D-) Rating for Rapport Therapeutics (NASDAQ:RAPP)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Rapport Therapeutics (NASDAQ:RAPP), highlighting concerns about the company's financial stability.
• Despite the "sell" rating from Weiss, other analysts have varying opinions, with Goldman Sachs upgrading Rapport to a "strong-buy" and JMP Securities issuing a "market outperform" rating with a price objective of $28.00.
• Shares of Rapport Therapeutics recently traded at $27.06 and have a market cap of approximately $987.69 million, indicating notable market interest despite mixed ratings from analysts.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group upgraded Rapport Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. JMP Securities reiterated a "market outperform" rating and issued a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th. HC Wainwright lifted their price objective on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Truist Financial assumed coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They set a "buy" rating and a $44.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rapport Therapeutics has an average rating of "Moderate Buy" and an average price target of $35.33.

Rapport Therapeutics Stock Up 2.3%

Shares of RAPP stock opened at $27.06 on Wednesday. The business has a 50-day moving average price of $20.48 and a two-hundred day moving average price of $14.52. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $42.27. The firm has a market cap of $987.69 million, a P/E ratio of -10.82 and a beta of 1.68.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.12. As a group, research analysts expect that Rapport Therapeutics will post -3.65 EPS for the current fiscal 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 that occurred on Friday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $127,500.00. Following the transaction, the insider owned 426,642 shares in the company, valued at approximately $6,399,630. This represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Abraham Ceesay sold 40,835 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total value of $1,074,777.20. Following the transaction, the chief executive officer owned 585,412 shares in the company, valued at $15,408,043.84. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,920 shares of company stock worth $2,568,524 in the last quarter. 13.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in shares of Rapport Therapeutics by 4.1% during the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company's stock worth $13,129,000 after acquiring an additional 45,063 shares during the period. Geode Capital Management LLC grew its holdings in shares of Rapport Therapeutics by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 333,159 shares of the company's stock worth $3,789,000 after acquiring an additional 17,496 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Rapport Therapeutics during the 1st quarter worth approximately $2,039,000. Affinity Asset Advisors LLC purchased a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $2,270,000. Finally, TD Asset Management Inc grew its holdings in shares of Rapport Therapeutics by 20.9% during the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company's stock worth $2,238,000 after acquiring an additional 34,052 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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