Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Consensus Rating of “Buy” by Brokerages

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been given a consensus rating of “Buy” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $46.60.

A number of equities analysts recently weighed in on RAPP shares. HC Wainwright lifted their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Citizens Jmp lifted their price objective on Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Truist Financial initiated coverage on Rapport Therapeutics in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 target price on the stock. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, BTIG Research started coverage on Rapport Therapeutics in a report on Wednesday, November 19th. They set a “buy” rating and a $47.00 price target on the stock.

Rapport Therapeutics Trading Up 3.2%

NASDAQ RAPP opened at $30.36 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of -11.20 and a beta of 1.64. The business’s 50-day moving average price is $26.75 and its two-hundred day moving average price is $18.84. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly 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. As a group, analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In other 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 transaction of $191,650.00. Following the transaction, 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 is accessible through this link. Also, CEO Abraham Ceesay sold 40,835 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $26.32, for a total value of $1,074,777.20. Following the completion of the sale, the chief executive officer owned 585,412 shares of the company’s stock, valued at approximately $15,408,043.84. This represents a 6.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,252 shares of company stock valued at $3,193,121 in the last ninety days. Insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $43,000. Strs Ohio grew its position in Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Rapport Therapeutics during the 3rd quarter valued at $143,000. Sandia Investment Management LP acquired a new position in Rapport Therapeutics during the third quarter worth $178,000. Finally, SG Americas Securities LLC bought a new position in shares of Rapport Therapeutics in the third quarter valued at $186,000.

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.