Rapport Therapeutics (NASDAQ:RAPP) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Rapport Therapeutics (NASDAQ:RAPP) from a sell rating to a hold rating in a report released on Sunday.

Several other equities research analysts have also issued reports on RAPP. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. The Goldman Sachs Group raised shares of Rapport Therapeutics to a “strong-buy” rating in a report on Friday, September 12th. Citizens Jmp raised their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. Finally, HC Wainwright raised their target price on shares of Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.80.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $30.27 on Friday. Rapport Therapeutics has a one year low of $6.43 and a one year high of $42.27. The company’s 50-day simple moving average is $27.02 and its 200-day simple moving average is $20.21. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -11.17 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.06. As a group, research analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Insider Buying and Selling at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock in a transaction on Monday, November 17th. The stock was sold at an average price of $25.20, for a total value of $128,091.60. Following the transaction, the chief executive officer directly owned 35,978 shares in the company, valued at $906,645.60. The trade was a 12.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Bredt sold 8,500 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $25.19, for a total value of $214,115.00. Following the sale, the insider directly owned 401,142 shares of the company’s stock, valued at approximately $10,104,766.98. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 115,252 shares of company stock valued at $3,001,471. Corporate insiders own 13.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RAPP. Russell Investments Group Ltd. acquired a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $43,000. Strs Ohio grew its position in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after purchasing an additional 400 shares in the last quarter. Deutsche Bank AG raised its stake in Rapport Therapeutics by 180.6% during the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock valued at $65,000 after purchasing an additional 4,185 shares during the period. Corebridge Financial Inc. lifted its holdings in shares of Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock valued at $83,000 after purchasing an additional 3,653 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock worth $99,000 after buying an additional 4,582 shares during the period.

Rapport Therapeutics Company Profile

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.