Rapport Therapeutics (NASDAQ:RAPP) COO Cheryl Gault Sells 10,000 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) COO Cheryl Gault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total value of $331,900.00. Following the sale, the chief operating officer directly owned 139,914 shares of the company’s stock, valued at $4,643,745.66. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rapport Therapeutics Stock Down 2.3%

RAPP stock traded down $0.77 during midday trading on Thursday, hitting $32.83. The company’s stock had a trading volume of 326,569 shares, compared to its average volume of 359,106. The stock’s 50-day moving average price is $43.95 and its 200 day moving average price is $38.95. Rapport Therapeutics, Inc. has a 1 year low of $23.75 and a 1 year high of $52.93. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -10.80 and a beta of 1.02.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). As a group, equities analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV purchased a new stake in Rapport Therapeutics during the first quarter valued at about $30,000. State of Wyoming purchased a new position in shares of Rapport Therapeutics in the second quarter worth about $65,000. Meeder Asset Management Inc. purchased a new position in shares of Rapport Therapeutics in the second quarter worth about $116,000. AlphaCentric Advisors LLC increased its stake in shares of Rapport Therapeutics by 6.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after purchasing an additional 408 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Rapport Therapeutics in the first quarter valued at approximately $215,000.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Leerink Partners initiated coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective for the company. William Blair began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. HC Wainwright increased their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. UBS Group set a $80.00 price target on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Finally, BTIG Research lifted their price target on shares of Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rapport Therapeutics has an average rating of “Buy” and a consensus price target of $66.25.

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.

Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.