Rapport Therapeutics (NASDAQ:RAPP) Upgraded at Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial set a $73.00 target price on Rapport Therapeutics in a research note on Wednesday. Wells Fargo & Company decreased their price target on Rapport Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday. Guggenheim reduced their price target on shares of Rapport Therapeutics from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday. BTIG Research increased their price objective on Rapport Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.50.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $24.44 on Friday. Rapport Therapeutics has a 12-month low of $22.06 and a 12-month high of $52.93. The company’s 50-day moving average is $34.16 and its two-hundred day moving average is $35.53.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Wednesday, November 4th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.36. Analysts forecast that Rapport Therapeutics will post -3.90 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, Director Paul M. Silva acquired 3,680 shares of the company’s stock in a transaction dated Thursday, October 22nd. The shares were acquired at an average cost of $27.07 per share, for a total transaction of $99,617.60. Following the completion of the purchase, the director owned 3,680 shares of the company’s stock, valued at approximately $99,617.60. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Healy purchased 969,480 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were acquired at an average cost of $21.00 per share, with a total value of $20,359,080.00. Following the completion of the purchase, the director owned 2,815,707 shares of the company’s stock, valued at $59,129,847. The trade was a 52.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 1,031,174 shares of company stock valued at $22,023,898 and have sold 97,976 shares valued at $4,391,729. 12.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RAPP. KBC Group NV bought a new position in shares of Rapport Therapeutics in the first quarter worth $30,000. Sterling Capital Management LLC boosted its stake in shares of Rapport Therapeutics by 597.9% during the third quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock valued at $33,000 after purchasing an additional 843 shares in the last quarter. State of Wyoming purchased a new stake in Rapport Therapeutics during the second quarter worth $65,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Rapport Therapeutics in the 3rd quarter valued at about $82,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $116,000.

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.