Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) Insider Sells 8,500 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $25.19, for a total transaction of $214,115.00. Following the transaction, the insider directly owned 401,142 shares in the company, valued at approximately $10,104,766.98. This represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

David Bredt also recently made the following trade(s):

• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.79, for a total transaction of $219,215.00.

Rapport Therapeutics Stock Performance

RAPP stock traded up $0.21 during trading on Tuesday, hitting $25.32. 190,681 shares of the company traded hands, compared to its average volume of 369,411. The company has a 50-day moving average of $26.27 and a 200-day moving average of $17.79. Rapport Therapeutics, Inc. has a 1 year low of $6.43 and a 1 year high of $42.27. The firm has a market capitalization of $1.21 billion, a PE ratio of -9.34 and a beta of 1.64.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.06. Sell-side analysts expect that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its position in Rapport Therapeutics by 30.7% during the third quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Rapport Therapeutics by 46.9% in the third quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company’s stock worth $48,308,000 after buying an additional 519,047 shares during the period. Baker BROS. Advisors LP raised its stake in Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after acquiring an additional 997,000 shares during the period. Alliancebernstein L.P. boosted its holdings in Rapport Therapeutics by 4.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after buying an additional 45,063 shares during the period. Finally, Vestal Point Capital LP purchased a new stake in shares of Rapport Therapeutics during the third quarter worth about $28,215,000.

Analyst Ratings Changes

A number of research firms have recently weighed in on RAPP. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. Citizens Jmp upped their price target on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. Finally, HC Wainwright increased 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.50.

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.