Rapport Therapeutics, Inc. (NASDAQ:RAPP) Given Average Recommendation of “Moderate Buy” by Brokerages

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $35.3333.

A number of equities research analysts recently commented on RAPP shares. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. Finally, Truist Financial started coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective for the company.

Rapport Therapeutics Stock Down 1.1%

RAPP stock opened at $26.65 on Wednesday. The business has a fifty day moving average of $24.93 and a 200-day moving average of $16.90. The company has a market cap of $972.73 million, a P/E ratio of -10.66 and a beta of 1.64. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.12. As a group, equities research analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 40,835 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total value of $1,074,777.20. Following the completion of the transaction, the chief executive officer directly owned 585,412 shares of the company’s stock, valued at approximately $15,408,043.84. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Bredt sold 8,500 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.00, for a total value of $127,500.00. Following the completion of the transaction, the insider directly owned 426,642 shares of the company’s stock, valued at approximately $6,399,630. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 109,336 shares of company stock valued at $2,831,481 in the last three months. Insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio grew its stake in Rapport Therapeutics by 23.5% in the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after acquiring an additional 400 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Rapport Therapeutics in the third quarter valued at about $143,000. SG Americas Securities LLC acquired a new position in shares of Rapport Therapeutics during the third quarter worth about $186,000. Deutsche Bank AG boosted its position in shares of Rapport Therapeutics by 180.6% during the first quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock worth $65,000 after buying an additional 4,185 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Rapport Therapeutics by 108.6% during the third quarter. New York State Common Retirement Fund now owns 7,300 shares of the company’s stock worth $217,000 after buying an additional 3,800 shares during the period.

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.