Rapport Therapeutics (NASDAQ:RAPP) Trading Up 5.4% – Here’s Why

Rapport Therapeutics, Inc. (NASDAQ:RAPP) shot up 5.4% during trading on Friday . The company traded as high as $30.40 and last traded at $30.32. 138,651 shares were traded during mid-day trading, a decline of 63% from the average session volume of 369,972 shares. The stock had previously closed at $28.78.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Truist Financial initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price target on the stock. The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. HC Wainwright boosted their price objective on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.80.

Rapport Therapeutics Price Performance

The firm has a market cap of $1.45 billion, a P/E ratio of -11.19 and a beta of 1.63. The company’s 50-day moving average is $26.99 and its two-hundred day moving average is $19.93.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.06. On average, analysts expect that Rapport Therapeutics, Inc. will post -3.65 EPS for the current fiscal year.

Insider Activity at Rapport Therapeutics

In other news, insider David Bredt sold 8,500 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.19, for a total transaction of $214,115.00. Following the completion of the transaction, the insider owned 401,142 shares of the company’s stock, valued at approximately $10,104,766.98. The trade was a 2.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Abraham Ceesay sold 40,835 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total value of $1,074,777.20. Following the sale, the chief executive officer owned 585,412 shares of the company’s stock, valued at approximately $15,408,043.84. This represents a 6.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 115,252 shares of company stock valued at $3,001,471. Company insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RAPP. Russell Investments Group Ltd. bought a new position in shares of Rapport Therapeutics in the third quarter worth about $43,000. Strs Ohio lifted its stake in 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 last quarter. Deutsche Bank AG boosted its position in Rapport Therapeutics by 180.6% in the first quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock valued at $65,000 after buying an additional 4,185 shares in the last quarter. Corebridge Financial Inc. grew its stake in shares of Rapport Therapeutics by 79.1% during the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after buying an additional 3,653 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the last quarter.

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.