Rapport Therapeutics, Inc. (NASDAQ:RAPP) Stock Has Consensus Target Price of $66.25 According to Analysts

Shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) have been assigned a consensus rating of “Buy” from the thirteen research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $66.25.

Several equities analysts have recently commented on RAPP shares. William Blair began coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They set an “outperform” rating for the company. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Leerink Partners started coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Wednesday, September 23rd. Finally, HC Wainwright boosted their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th.

Rapport Therapeutics Stock Down 2.0%

Shares of RAPP stock opened at $32.17 on Friday. The firm’s 50 day moving average price is $43.60 and its two-hundred day moving average price is $38.94. Rapport Therapeutics has a fifty-two week low of $23.75 and a fifty-two week high of $52.93. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -10.58 and a beta of 1.22.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, equities analysts forecast that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Rapport Therapeutics news, CEO Abraham Ceesay sold 28,958 shares of the 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Cheryl Gault sold 10,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $4,643,745.66. This represents a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 93,454 shares of company stock worth $4,277,081 in the last quarter. Company insiders own 12.48% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in Rapport Therapeutics during the 2nd quarter valued at $888,000. Wellington Management Group LLP boosted its position in shares of Rapport Therapeutics by 11.2% in the second quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock worth $3,625,000 after buying an additional 8,757 shares during the period. Artia Global Partners LP acquired a new stake in shares of Rapport Therapeutics in the second quarter worth $5,772,000. Bank of America Corp DE purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $3,170,000. Finally, Jupiter Topco LLC purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $574,000.

About Rapport Therapeutics

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.