Rapport Therapeutics (NASDAQ:RAPP) Stock Price Target Cut by UBS Group

Rapport Therapeutics (NASDAQ:RAPP) had its target price reduced by stock analysts at UBS Group from $71.00 to $64.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group‘s price objective indicates a potential upside of 169.81% from the stock’s current price.

Several other research analysts have also commented on RAPP. Wells Fargo & Company dropped their price objective on shares of Rapport Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. TD Cowen reissued a “buy” rating on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. William Blair began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They issued an “outperform” rating for the company. Finally, BTIG Research lifted their price target on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $65.91.

Rapport Therapeutics Stock Performance

Shares of Rapport Therapeutics stock opened at $23.72 on Thursday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -7.48 and a beta of 1.40. The stock has a 50 day moving average price of $34.68 and a 200-day moving average price of $35.53. Rapport Therapeutics has a one year low of $22.06 and a one year high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Wednesday, November 4th. The company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.36. Sell-side analysts predict that Rapport Therapeutics will post -4.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, Director Steven M. Paul bought 35,714 shares of the stock in a transaction dated Thursday, October 22nd. The stock was purchased at an average cost of $27.28 per share, with a total value of $974,277.92. Following the completion of the purchase, the director owned 77,380 shares of the company’s stock, valued at $2,110,926.40. This trade represents a 85.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul M. Silva bought 3,680 shares of the stock in a transaction dated Thursday, October 22nd. The shares were bought at an average cost of $27.07 per share, with a total value of $99,617.60. Following the completion of the purchase, the director directly owned 3,680 shares of the company’s stock, valued at approximately $99,617.60. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 1,031,174 shares of company stock valued at $22,023,898 and sold 97,976 shares valued at $4,391,729. 12.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Large investors have recently added to or reduced their stakes in the stock. TRV GP V LLC bought a new position in Rapport Therapeutics in the 2nd quarter worth about $261,709,477. ARCH Venture Management LLC purchased a new position in shares of Rapport Therapeutics during the second quarter worth approximately $155,376,512. BlackRock Inc. bought a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $112,500,000. Johnson & Johnson bought a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $74,360,823. Finally, TRV GP VI LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at approximately $40,387,314.

Rapport Therapeutics Company Profile

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.