Rapport Therapeutics (NASDAQ:RAPP) Stock Lifted to “Hold” by Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

RAPP has been the topic of a number of other reports. William Blair started coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Guggenheim lowered their price objective on Rapport Therapeutics from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup reiterated an “outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. Finally, Wolfe Research began coverage on Rapport Therapeutics in a report on Thursday, October 15th. They set an “outperform” rating and a $50.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rapport Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $64.50.

Rapport Therapeutics Stock Up 3.0%

Shares of Rapport Therapeutics stock opened at $24.44 on Friday. Rapport Therapeutics has a twelve month low of $22.06 and a twelve month high of $52.93. The company has a fifty day moving average price of $34.16 and a 200 day moving average price of $35.53.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.36. Equities research analysts expect that Rapport Therapeutics will post -3.90 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James Healy bought 969,480 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average price of $21.00 per share, for a total transaction of $20,359,080.00. Following the transaction, the director directly owned 2,815,707 shares of the company’s stock, valued at approximately $59,129,847. The trade was a 52.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Cheryl Gault sold 10,000 shares of Rapport Therapeutics stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $33.19, for a total value of $331,900.00. Following the sale, the chief operating officer owned 139,914 shares in the company, valued at $4,643,745.66. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 1,031,174 shares of company stock worth $22,023,898 and have sold 97,976 shares worth $4,391,729. 12.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RAPP. Russell Investments Group Ltd. lifted its position in shares of Rapport Therapeutics by 13.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 63,138 shares of the company’s stock worth $2,121,000 after purchasing an additional 7,680 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Rapport Therapeutics by 31.8% in the third quarter. Alps Advisors Inc. now owns 63,565 shares of the company’s stock valued at $2,136,000 after purchasing an additional 15,322 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Rapport Therapeutics in the third quarter valued at approximately $82,000. Profund Advisors LLC lifted its stake in shares of Rapport Therapeutics by 420.8% in the 3rd quarter. Profund Advisors LLC now owns 33,112 shares of the company’s stock valued at $1,113,000 after acquiring an additional 26,754 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Rapport Therapeutics by 40.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,154 shares of the company’s stock worth $500,000 after acquiring an additional 4,342 shares in the last quarter.

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.