Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) had its price objective boosted by equities research analysts at BTIG Research from $75.00 to $89.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 211.19% from the stock’s current price.
RAPP has been the topic of several other research reports. Guggenheim initiated coverage on Rapport Therapeutics in a report on Tuesday, October 6th. They issued a “buy” rating and a $65.00 price target on the stock. William Blair initiated coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. Raymond James Financial reissued a “strong-buy” rating on shares of Rapport Therapeutics in a report on Tuesday, September 22nd. UBS Group initiated 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. Finally, HC Wainwright upped their price objective on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Rapport Therapeutics currently has an average rating of “Buy” and a consensus target price of $65.00.
Read Our Latest Report on RAPP
Rapport Therapeutics Trading Up 3.7%
Shares of RAPP stock opened at $28.60 on Tuesday. Rapport Therapeutics has a 52-week low of $23.75 and a 52-week high of $52.93. The business’s fifty day moving average is $40.70 and its 200 day moving average is $39.14.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, equities research analysts predict that Rapport Therapeutics will post -4.09 earnings per share for the current year.
Insider Buying and Selling at Rapport Therapeutics
In other news, COO Cheryl Gault sold 10,000 shares of Rapport Therapeutics stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total transaction of $331,900.00. Following the completion of the sale, the chief operating officer directly owned 139,914 shares of the company’s stock, valued at approximately $4,643,745.66. The trade was a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Abraham Ceesay sold 1,147 shares of the company’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $30.66, for a total transaction of $35,167.02. Following the completion of the transaction, the chief executive officer owned 452,245 shares of the company’s stock, valued at $13,865,831.70. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 97,976 shares of company stock worth $4,420,349. Corporate insiders own 12.48% of the company’s stock.
Institutional Investors Weigh In On Rapport Therapeutics
A number of large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in Rapport Therapeutics during the second quarter worth about $888,000. Wellington Management Group LLP boosted its holdings in shares of Rapport Therapeutics by 11.2% in the 2nd quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock worth $3,625,000 after purchasing an additional 8,757 shares in the last quarter. Artia Global Partners LP purchased a new position in shares of Rapport Therapeutics in the 2nd quarter worth about $5,772,000. Bank of America Corp DE bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $3,170,000. Finally, Jupiter Topco LLC bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $574,000.
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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