Citizens Jmp Issues Positive Forecast for Rapport Therapeutics (NASDAQ:RAPP) Stock Price

Rapport Therapeutics (NASDAQ:RAPP) had its target price lifted by equities researchers at Citizens Jmp from $77.00 to $80.00 in a report released on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 221.22% from the stock’s previous close.

A number of other brokerages have also weighed in on RAPP. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. HC Wainwright boosted their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, September 8th. 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 shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. Finally, Truist Financial assumed coverage on shares of Rapport Therapeutics in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Rapport Therapeutics Price Performance

RAPP stock traded down $0.46 during mid-day trading on Friday, reaching $24.91. The company had a trading volume of 18,944 shares, compared to its average volume of 368,833. The company has a market capitalization of $908.98 million, a price-to-earnings ratio of -10.07 and a beta of 1.64. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27. The stock has a 50 day simple moving average of $25.32 and a two-hundred day simple moving average of $17.02.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.12. On average, equities analysts predict that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In related news, COO Cheryl Gault sold 5,000 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $38.33, for a total value of $191,650.00. Following the sale, the chief operating officer owned 171,928 shares of the company’s stock, valued at $6,590,000.24. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.00, for a total value of $127,500.00. Following the transaction, the insider directly owned 426,642 shares of the company’s stock, valued at approximately $6,399,630. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 109,336 shares of company stock worth $2,831,481 in the last three months. 13.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Strs Ohio boosted its position in shares of Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after purchasing an additional 400 shares in the last quarter. Acuta Capital Partners LLC increased its holdings in Rapport Therapeutics by 22.0% in the second quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock worth $227,000 after purchasing an additional 3,600 shares in the last quarter. Corebridge Financial Inc. lifted its stake in Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock valued at $83,000 after buying an additional 3,653 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Rapport Therapeutics by 108.6% during the 3rd 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 in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company’s stock worth $144,000 after buying an additional 4,109 shares during the period.

Rapport Therapeutics Company Profile

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.