Rapport Therapeutics, Inc. (NASDAQ:RAPP) Receives $35.33 Consensus Target Price from Analysts

Rapport Therapeutics, Inc. (NASDAQ:RAPP) has received an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $46.50.

A number of analysts have issued reports on RAPP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. Citizens Jmp lifted their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. HC Wainwright increased their price target on Rapport Therapeutics from $31.00 to $34.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, Truist Financial began coverage on Rapport Therapeutics in a research note on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective on the stock.

Insiders Place Their Bets

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction that occurred 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 $6,399,630. The trade was a 1.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Cheryl Gault sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 171,928 shares of the company’s stock, valued at $6,590,000.24. This represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 109,336 shares of company stock valued at $2,831,481. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

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

Rapport Therapeutics Trading Up 2.3%

RAPP opened at $25.50 on Wednesday. The stock has a fifty day moving average price of $25.81 and a 200 day moving average price of $17.41. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $42.27. The stock has a market cap of $930.75 million, a price-to-earnings ratio of -9.41 and a beta of 1.64.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.06. As a group, sell-side analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

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.