Rapport Therapeutics (NASDAQ:RAPP) Insider David Bredt Sells 8,500 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $30.02, for a total transaction of $255,170.00. Following the transaction, the insider owned 392,642 shares in the company, valued at approximately $11,787,112.84. This trade represents a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

David Bredt also recently made the following trade(s):

• On Monday, November 17th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.19, for a total transaction of $214,115.00.
• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.79, for a total transaction of $219,215.00.

Rapport Therapeutics Trading Up 3.9%

Shares of RAPP stock opened at $30.76 on Wednesday. Rapport Therapeutics, Inc. has a 1 year low of $6.43 and a 1 year high of $42.27. The firm’s 50 day moving average is $27.15 and its 200-day moving average is $20.52. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.35 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.06. On average, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently modified their holdings of the business. Strs Ohio grew its position in shares of Rapport Therapeutics by 23.5% in 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 during the period. Creative Planning lifted its stake in Rapport Therapeutics by 12.8% in the third quarter. Creative Planning now owns 11,959 shares of the company’s stock valued at $355,000 after buying an additional 1,357 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Rapport Therapeutics in the third quarter valued at approximately $43,000. Two Sigma Investments LP boosted its holdings in shares of Rapport Therapeutics by 8.9% in the third quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock valued at $639,000 after buying an additional 1,757 shares during the period. Finally, Acuta Capital Partners LLC increased its position in shares of Rapport Therapeutics by 22.0% during the second quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock worth $227,000 after acquiring an additional 3,600 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RAPP shares. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price target on the stock. HC Wainwright lifted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $47.00 target price on shares of Rapport Therapeutics in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.80.

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.