Rapport Therapeutics (NASDAQ:RAPP) Upgraded to Strong-Buy at BTIG Research

BTIG Research upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Truist Financial began coverage on Rapport Therapeutics in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. Citizens Jmp lifted their price objective 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 note on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and a consensus target price of $46.60.

Rapport Therapeutics Stock Performance

Shares of NASDAQ RAPP opened at $26.88 on Tuesday. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -9.92 and a beta of 1.64. The business’s 50 day moving average price is $26.31 and its 200-day moving average price is $17.95.

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

Insider Activity

In related news, insider David Bredt sold 8,500 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $25.19, for a total transaction of $214,115.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wendy B. Young purchased 3,500 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was purchased at an average cost of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the acquisition, the director directly owned 9,500 shares of the company’s stock, valued at approximately $214,700. The trade was a 58.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 120,252 shares of company stock worth $3,193,121. Insiders own 13.57% of the company’s stock.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAPP. Baker BROS. Advisors LP increased its stake in Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock valued at $45,949,000 after purchasing an additional 997,000 shares in the last quarter. Vestal Point Capital LP purchased a new position in Rapport Therapeutics in the 3rd quarter worth $28,215,000. Polar Capital Holdings Plc acquired a new stake in Rapport Therapeutics during the 3rd quarter worth about $27,887,000. Capital International Investors grew its stake in Rapport Therapeutics by 30.7% during the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after purchasing an additional 800,000 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Rapport Therapeutics by 265.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after purchasing an additional 648,378 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.