David Bredt Sells 8,500 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $30.02, for a total value of $255,170.00. Following the transaction, the insider owned 392,642 shares of the company’s stock, valued at approximately $11,787,112.84. The trade was a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

David Bredt also recently made the following trade(s):

• On Monday, November 17th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.19, for a total value of $214,115.00.
• On Wednesday, October 15th, David Bredt sold 8,500 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.79, for a total value of $219,215.00.

Rapport Therapeutics Stock Up 3.9%

NASDAQ RAPP traded up $1.16 during trading on Tuesday, hitting $30.76. 268,120 shares of the stock traded hands, compared to its average volume of 369,833. The company has a market capitalization of $1.47 billion, a P/E ratio of -11.35 and a beta of 1.63. The firm has a 50-day simple moving average of $27.06 and a 200-day simple moving average of $20.36. Rapport Therapeutics, Inc. has a 12-month low of $6.43 and a 12-month high of $42.27.

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

Institutional Trading of Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio boosted its position in shares of Rapport Therapeutics by 23.5% during the third quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after buying an additional 400 shares during the period. Creative Planning lifted its stake in shares of Rapport Therapeutics by 12.8% during the 3rd quarter. Creative Planning now owns 11,959 shares of the company’s stock worth $355,000 after acquiring an additional 1,357 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics during the 3rd quarter valued at $43,000. Two Sigma Investments LP grew its position in Rapport Therapeutics by 8.9% in the 3rd quarter. Two Sigma Investments LP now owns 21,500 shares of the company’s stock valued at $639,000 after acquiring an additional 1,757 shares during the last quarter. Finally, Acuta Capital Partners LLC grew its position in Rapport Therapeutics by 22.0% in the 2nd quarter. Acuta Capital Partners LLC now owns 20,000 shares of the company’s stock valued at $227,000 after acquiring an additional 3,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

RAPP has been the topic of a number of recent research reports. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $47.00 price target on shares of Rapport Therapeutics in a report on Monday, December 8th. HC Wainwright boosted their price objective on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, The Goldman Sachs Group raised Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.80.

About Rapport Therapeutics

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.