Rapport Therapeutics (NASDAQ:RAPP) Price Target Raised to $80.00 at Citizens Jmp

Rapport Therapeutics (NASDAQ:RAPP) had its target price boosted by Citizens Jmp from $77.00 to $80.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms have also commented on RAPP. Truist Financial began coverage on Rapport Therapeutics in a research report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. HC Wainwright upped their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.50.

Rapport Therapeutics Price Performance

RAPP stock traded up $0.30 during midday trading on Friday, reaching $25.66. 554,310 shares of the company’s stock traded hands, compared to its average volume of 399,722. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The business has a 50-day moving average price of $25.48 and a two-hundred day moving average price of $17.13. The company has a market capitalization of $936.59 million, a P/E ratio of -9.47 and a beta of 1.64.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. As a group, research 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, Director Wendy B. Young purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the purchase, the director owned 9,500 shares of the company’s stock, valued at approximately $214,700. This trade represents a 58.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Bredt sold 8,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $25.79, for a total value of $219,215.00. Following the completion of the sale, the insider directly owned 409,642 shares of the company’s stock, valued at approximately $10,564,667.18. This represents a 2.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 109,336 shares of company stock worth $2,831,481 in the last ninety days. 13.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Rapport Therapeutics by 46.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,626,538 shares of the company’s stock valued at $48,308,000 after acquiring an additional 519,047 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Rapport Therapeutics in the first quarter worth $2,039,000. Affinity Asset Advisors LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $2,270,000. Alliancebernstein L.P. raised its holdings in shares of Rapport Therapeutics by 4.1% during the second quarter. Alliancebernstein L.P. now owns 1,154,688 shares of the company’s stock worth $13,129,000 after purchasing an additional 45,063 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Rapport Therapeutics by 20.9% during the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after purchasing an additional 34,052 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.