Rapport Therapeutics (NASDAQ:RAPP) Coverage Initiated at BTIG Research

Equities research analysts at BTIG Research began coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $47.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 85.62% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Truist Financial started coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 target price for the company. Citizens Jmp increased their price target on Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Finally, The Goldman Sachs Group raised shares of Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.60.

Rapport Therapeutics Stock Performance

Shares of RAPP opened at $25.32 on Wednesday. The firm has a market cap of $1.21 billion, a PE ratio of -9.34 and a beta of 1.64. The firm’s 50 day moving average price is $26.22 and its 200 day moving average price is $17.89. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.06. On average, sell-side analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In other Rapport Therapeutics news, insider David Bredt sold 8,500 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $25.19, for a total value of $214,115.00. Following the completion of the transaction, the insider owned 401,142 shares of the company’s stock, valued at $10,104,766.98. This represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Cheryl Gault sold 5,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $38.33, for a total value of $191,650.00. Following the completion of the transaction, the chief operating officer directly owned 171,928 shares of the company’s stock, valued at approximately $6,590,000.24. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 120,252 shares of company stock worth $3,193,121 over the last ninety days. Corporate insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $43,000. Strs Ohio boosted 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 buying an additional 400 shares in the last quarter. Deutsche Bank AG grew 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 acquiring an additional 4,185 shares during the period. Corebridge Financial Inc. raised its stake in 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 acquiring an additional 3,653 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $99,000 after acquiring an additional 4,582 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.