Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) have received an average recommendation of “Buy” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $68.36.
Several equities analysts have recently weighed in on the stock. Citigroup reiterated an “outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Guggenheim raised their price objective on shares of Rapport Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. William Blair began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They set an “outperform” rating for the company. TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. Finally, UBS Group began coverage on Rapport Therapeutics in a research note on Thursday, October 15th. They set a “buy” rating and a $71.00 price objective for the company.
Check Out Our Latest Stock Report on Rapport Therapeutics
Rapport Therapeutics Trading Up 8.7%
Shares of Rapport Therapeutics stock opened at $27.54 on Wednesday. Rapport Therapeutics has a 12 month low of $23.75 and a 12 month high of $52.93. The business’s fifty day simple moving average is $38.19 and its 200 day simple moving average is $35.64. The firm has a market capitalization of $1.32 billion, a P/E ratio of -9.06 and a beta of 1.22.
Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last issued its earnings results 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). Analysts predict that Rapport Therapeutics will post -4.08 EPS for the current fiscal year.
Insider Activity
In related news, Director Wendy B. Young purchased 3,789 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was acquired at an average price of $26.39 per share, with a total value of $99,991.71. Following the purchase, the director directly owned 13,289 shares in the company, valued at approximately $350,696.71. This represents a 39.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul M. Silva purchased 3,680 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was bought at an average cost of $27.07 per share, for a total transaction of $99,617.60. Following the acquisition, the director directly owned 3,680 shares in the company, valued at approximately $99,617.60. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 61,694 shares of company stock worth $1,664,818 and have sold 97,976 shares worth $4,391,729. 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. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. Sterling Capital Management LLC boosted its position in Rapport Therapeutics by 597.9% during the third quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock valued at $33,000 after buying an additional 843 shares during the period. State of Wyoming bought a new position in shares of Rapport Therapeutics during the second quarter valued at about $65,000. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics during the second quarter valued at about $116,000. Finally, AlphaCentric Advisors LLC grew its stake in shares of Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after buying an additional 408 shares during the last quarter.
About Rapport Therapeutics
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.
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