Wolfe Research assumed coverage on shares of Rapport Therapeutics (NASDAQ:RAPP – Free Report) in a report issued on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $50.00 price objective on the stock.
A number of other brokerages have also recently commented on RAPP. Guggenheim started coverage on shares of Rapport Therapeutics in a research report on Tuesday, October 6th. They set a “buy” rating and a $65.00 price target on the stock. William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. HC Wainwright raised their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a research note on Tuesday, September 22nd. Finally, Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rapport Therapeutics has a consensus rating of “Buy” and an average price target of $63.60.
View Our Latest Stock Report on Rapport Therapeutics
Rapport Therapeutics Stock Down 6.8%
Shares of RAPP stock opened at $27.57 on Thursday. The business has a 50-day moving average price of $41.07 and a two-hundred day moving average price of $39.08. Rapport Therapeutics has a 12-month low of $23.75 and a 12-month high of $52.93. The firm has a market cap of $1.32 billion, a P/E ratio of -9.07 and a beta of 1.22.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). As a group, research analysts expect that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.
Insider Transactions at Rapport Therapeutics
In other Rapport Therapeutics news, COO Cheryl Gault sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $33.19, for a total value of $331,900.00. Following the completion of the sale, the chief operating officer owned 139,914 shares in the company, valued at approximately $4,643,745.66. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at approximately $23,338,045.08. This trade represents a 5.62% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 97,976 shares of company stock worth $4,420,349. 12.48% of the stock is owned by company insiders.
Hedge Funds Weigh In On Rapport Therapeutics
Hedge funds have recently made changes to their positions in the business. TRV GP V LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $261,709,477. ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics in the second quarter worth $155,376,512. BlackRock Inc. bought a new stake in Rapport Therapeutics in the second quarter valued at $112,500,000. Johnson & Johnson bought a new stake in Rapport Therapeutics in the second quarter valued at $74,360,823. Finally, TRV GP VI LLC bought a new stake in Rapport Therapeutics in the second quarter valued at $40,387,314.
Rapport Therapeutics Company Profile
Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.
Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.
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