Rapport Therapeutics, Inc. $RAPP Shares Newly Purchased by Sigma Planning Corp

Sigma Planning Corp acquired a new position in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $1,008,000. Sigma Planning Corp owned approximately 0.06% of Rapport Therapeutics at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. TRV GP V LLC acquired a new position in Rapport Therapeutics during the 2nd quarter worth approximately $261,709,477. ARCH Venture Management LLC bought a new position in Rapport Therapeutics in the second quarter worth approximately $155,376,512. BlackRock Inc. bought a new position in Rapport Therapeutics in the second quarter worth approximately $112,500,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics in the second quarter valued at approximately $74,360,823. Finally, TRV GP VI LLC acquired a new stake in Rapport Therapeutics in the second quarter valued at approximately $40,387,314.

Wall Street Analyst Weigh In

Several research firms have recently commented on RAPP. UBS Group assumed coverage on Rapport Therapeutics in a report on Thursday, October 15th. They set a “buy” rating and a $71.00 price objective for the company. Wolfe Research began coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They issued an “outperform” rating and a $50.00 price target for the company. BTIG Research lifted their price target on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. William Blair assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They set an “outperform” rating for the company. Finally, Guggenheim upped their price objective on shares of Rapport Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $68.36.

Check Out Our Latest Stock Analysis on Rapport Therapeutics

Rapport Therapeutics Trading Up 7.6%

RAPP stock opened at $24.21 on Friday. Rapport Therapeutics, Inc. has a 52-week low of $22.06 and a 52-week high of $52.93. The business has a 50-day simple moving average of $37.16 and a two-hundred day simple moving average of $35.58.

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -4.08 earnings per share for the current fiscal year.

Insider Activity at Rapport Therapeutics

In related news, Director John Maraganore purchased 9,411 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was acquired at an average price of $26.45 per share, for a total transaction of $248,920.95. Following the completion of the acquisition, the director owned 9,411 shares of the company’s stock, valued at $248,920.95. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Abraham Ceesay sold 28,958 shares of the stock in a transaction on Tuesday, August 11th. The shares were 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 directly owned 486,108 shares of the company’s stock, valued at $23,338,045.08. The trade was a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have bought 61,694 shares of company stock valued at $1,664,818 and have sold 97,976 shares valued at $4,391,729. Corporate insiders own 12.48% of the company’s stock.

Rapport Therapeutics Profile

(Free Report)

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.

Further Reading

Institutional Ownership by Quarter for Rapport Therapeutics (NASDAQ:RAPP)

Receive News & Ratings for Rapport Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rapport Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.