Rapport Therapeutics (NASDAQ:RAPP) Upgraded to “Hold” at Wall Street Zen

by · The Cerbat Gem

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) 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.

Several other brokerages have also weighed in on RAPP. JMP Securities restated a “market outperform” rating and set a $28.00 target price on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. HC Wainwright increased their price target 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. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $31.00.

Read Our Latest Analysis on RAPP

Rapport Therapeutics Trading Up 2.4%

Shares of RAPP opened at $23.76 on Friday. The firm’s 50-day moving average is $16.09 and its two-hundred day moving average is $12.38. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $42.27. The firm has a market capitalization of $867.24 million, a P/E ratio of -9.50 and a beta of 0.71.

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.12. Analysts predict that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling

In other news, Director Wendy B. Young bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the transaction, the director owned 9,500 shares in the company, valued at $214,700. The trade was a 58.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.00, for a total transaction of $127,500.00. Following the sale, the insider owned 426,642 shares in the company, valued at approximately $6,399,630. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,500 shares of company stock worth $557,150. 13.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Rapport Therapeutics by 62.5% during the second quarter. Bank of America Corp DE now owns 12,127 shares of the company’s stock worth $138,000 after purchasing an additional 4,666 shares during the period. Acuta Capital Partners LLC raised its stake in shares of Rapport Therapeutics by 22.0% in the 2nd quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $227,000 after acquiring an additional 3,600 shares during the period. Alliancebernstein L.P. raised its stake in shares of Rapport Therapeutics by 4.1% in the 2nd 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. The Manufacturers Life Insurance Company raised its stake in shares of Rapport Therapeutics by 27.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 100,424 shares of the company’s stock valued at $1,142,000 after acquiring an additional 21,493 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $2,270,000.

Rapport Therapeutics Company Profile

(Get Free Report)

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.

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