Rapport Therapeutics (NASDAQ:RAPP) Director Acquires 969,480 Shares of Stock

by · The Markets Daily

Rapport Therapeutics, Inc. (NASDAQ:RAPP – Get Free Report) Director James Healy acquired 969,480 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $21.00 per share, with a total value of $20,359,080.00. Following the completion of the purchase, the director owned 2,815,707 shares in the company, valued at approximately $59,129,847. This represents a 52.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rapport Therapeutics Trading Up 3.5%

Shares of Rapport Therapeutics stock traded up $0.84 during trading on Friday, hitting $25.05. 923,307 shares of the company were exchanged, compared to its average volume of 1,355,918. Rapport Therapeutics, Inc. has a fifty-two week low of $22.06 and a fifty-two week high of $52.93. The firm has a 50 day moving average price of $36.70 and a 200 day moving average price of $35.57.

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Sell-side analysts anticipate that Rapport Therapeutics, Inc. will post -4.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. AlphaCentric Advisors LLC boosted its holdings 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 worth $201,000 after purchasing an additional 408 shares during the last quarter. Sterling Capital Management LLC increased its stake in Rapport Therapeutics by 597.9% in the third quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock valued at $33,000 after purchasing an additional 843 shares during the last quarter. KBC Group NV acquired a new position in Rapport Therapeutics in the first quarter valued at $30,000. State of Wyoming purchased a new position in Rapport Therapeutics during the second quarter worth about $65,000. Finally, Swiss National Bank lifted its position in Rapport Therapeutics by 3.5% during the first quarter. Swiss National Bank now owns 56,500 shares of the company’s stock worth $1,768,000 after buying an additional 1,900 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RAPP shares. Wells Fargo & Company reduced their price objective on Rapport Therapeutics from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Wolfe Research began coverage on Rapport Therapeutics in a research report on Thursday, October 15th. They set an “outperform” rating and a $50.00 price objective for the company. BTIG Research boosted their target price on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, JonesTrading upped their target price on shares of Rapport Therapeutics from $50.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $68.36.

Get Our Latest Stock Report on Rapport Therapeutics

Rapport Therapeutics Company Profile

(Get Free Report)

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.

Recommended Stories