Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report)’s share price gapped up before the market opened on Tuesday after BTIG Research raised their price target on the stock from $75.00 to $89.00. The stock had previously closed at $28.60, but opened at $30.33. BTIG Research currently has a buy rating on the stock. Rapport Therapeutics shares last traded at $29.0240, with a volume of 3,305,961 shares.
Several other analysts also recently weighed in on RAPP. Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective on the stock. William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an “outperform” rating for the company. UBS Group began coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They issued a “buy” rating and a $71.00 target price for the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Finally, HC Wainwright lifted their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a 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 issued a Sell rating to the company. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Buy” and a consensus target price of $65.00.
Read Our Latest Stock Analysis on Rapport Therapeutics
Insiders Place Their Bets
In other news, CEO Abraham Ceesay sold 28,958 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Cheryl Gault sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total value of $331,900.00. Following the transaction, the chief operating officer directly owned 139,914 shares in the company, valued at $4,643,745.66. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 97,976 shares of company stock valued at $4,420,349 in the last quarter. 12.48% of the stock is currently owned by insiders.
More Rapport Therapeutics News
Here are the key news stories impacting Rapport Therapeutics this week:
- Positive Sentiment: RAP-219 met both Phase 2 trial endpoints. The treatment produced statistically significant, placebo-adjusted improvements at Week 3 in the Young Mania Rating Scale total score and the Clinical Global Impression–Bipolar Severity of Mania score. Rapport Therapeutics Announces Positive Topline Results from its Phase 2 Trial
- Positive Sentiment: The trial success strengthens RAP-219’s commercial prospects. Jefferies estimated the bipolar-mania indication could represent a potential $1 billion peak-sales opportunity, helping explain the stock’s strong move and elevated trading activity. Inside the $1 Billion Blockbuster Opportunity
- Positive Sentiment: BTIG Research raised its price target to $89 from $75 and reiterated a Buy rating. The substantially higher target signals increased analyst confidence in Rapport’s pipeline following the clinical readout.
- Positive Sentiment: Wells Fargo also maintained its Buy rating, adding to the favorable analyst backdrop. Wells Fargo Sticks to Its Buy Rating
- Neutral Sentiment: Premarket volume was approximately 1.44 million shares, versus an average of about 351,000, indicating unusually strong attention and liquidity around the trial announcement. Why Is Rapport Therapeutics Stock Trading Higher Today?
- Negative Sentiment: Investors had recently questioned the stock’s valuation after a 29% monthly decline. Rapport remains loss-making, and the positive topline data will need to be confirmed through additional development and regulatory progress. Rapport Therapeutics Stock Seems Pricey
Institutional Investors Weigh In On Rapport Therapeutics
Several institutional investors have recently bought and sold shares of the stock. Algert Global LLC bought a new position in Rapport Therapeutics in the 2nd quarter valued at about $9,327,000. Johnson & Johnson bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $74,360,823. Legal & General Group Plc bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $940,000. Walleye Capital LLC bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $4,257,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $3,426,000.
Rapport Therapeutics Stock Performance
The business’s 50 day moving average price is $40.70 and its two-hundred day moving average price is $39.14. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -10.15 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 the consensus estimate of ($1.12) by ($0.07). On average, sell-side analysts expect that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.
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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