Rapport Therapeutics (NASDAQ:RAPP) COO Sells $331,900.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) COO Cheryl Gault sold 10,000 shares of the business’s 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 sale, the chief operating officer directly owned 139,914 shares in the company, valued at approximately $4,643,745.66. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $32.17 on Friday. Rapport Therapeutics, Inc. has a 1 year low of $23.75 and a 1 year high of $52.93. The stock has a market cap of $1.54 billion, a PE ratio of -10.58 and a beta of 1.22. The business’s fifty day moving average is $43.60 and its 200-day moving average is $38.94.

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Equities research analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group set a $80.00 target price on shares of Rapport Therapeutics in a report on Wednesday, September 23rd. BTIG Research upped their price target on Rapport Therapeutics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Leerink Partners initiated coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective for the company. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Finally, HC Wainwright raised their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $66.25.

View Our Latest Analysis on RAPP

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the company. Algert Global LLC purchased a new position in Rapport Therapeutics during the 2nd quarter worth approximately $9,327,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics in the second quarter worth $74,360,823. Legal & General Group Plc purchased a new position in shares of Rapport Therapeutics during the second quarter valued at $940,000. Walleye Capital LLC acquired a new position in Rapport Therapeutics during the second quarter valued at $4,257,000. Finally, Bank of New York Mellon Corp purchased a new stake in Rapport Therapeutics in the 2nd quarter worth about $3,426,000.

About Rapport Therapeutics

(Get Free Report)

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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