Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $255,170.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $30.02, for a total transaction of $255,170.00. Following the completion of the transaction, the insider directly owned 392,642 shares of the company’s stock, valued at approximately $11,787,112.84. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 17th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.19, for a total transaction of $214,115.00.
• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.79, for a total transaction of $219,215.00.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $29.64 on Friday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -10.94 and a beta of 1.63. The stock’s fifty day moving average price is $27.24 and its two-hundred day moving average price is $20.64. Rapport Therapeutics, Inc. has a 52-week low of $6.43 and a 52-week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.06. On average, equities analysts predict that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Rapport Therapeutics by 23.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company’s stock valued at $912,000 after purchasing an additional 17,459 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Rapport Therapeutics by 180.6% in the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock valued at $65,000 after buying an additional 4,185 shares during the period. Swiss National Bank increased its position in shares of Rapport Therapeutics by 77.2% in the 1st quarter. Swiss National Bank now owns 31,900 shares of the company’s stock valued at $320,000 after buying an additional 13,900 shares in the last quarter. Nuveen LLC acquired a new stake in Rapport Therapeutics during the 1st quarter worth $219,000. Finally, Jump Financial LLC bought a new position in Rapport Therapeutics during the first quarter worth about $138,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RAPP shares. Truist Financial started coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price objective for the company. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Citizens Jmp lifted their target price on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Finally, HC Wainwright upped their target price on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

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.