Rapport Therapeutics (NASDAQ:RAPP) Stock Falls 6.4% – Time to Sell?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price fell 6.4% on Tuesday. The stock traded as low as $30.50 and last traded at $30.1250. Approximately 58,943 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 356,089 shares. The stock had previously closed at $32.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RAPP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. BTIG Research increased their price objective on shares of Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group set a $80.00 target price on shares of Rapport Therapeutics in a research report on Wednesday, September 23rd. Finally, Leerink Partners began coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rapport Therapeutics currently has an average rating of “Buy” and a consensus price target of $66.11.

Rapport Therapeutics Trading Down 4.7%

The company has a market cap of $1.47 billion, a price-to-earnings ratio of -10.15 and a beta of 1.22. The business has a fifty day moving average of $43.41 and a two-hundred day moving average of $39.05.

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

Insider Transactions at Rapport Therapeutics

In related news, CEO Abraham Ceesay sold 2,210 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $39.17, for a total value of $86,565.70. Following the transaction, the chief executive officer directly owned 456,767 shares of the company’s stock, valued at approximately $17,891,563.39. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Cheryl Gault sold 10,000 shares of Rapport Therapeutics stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $33.19, for a total value of $331,900.00. Following the completion of the sale, the chief operating officer owned 139,914 shares in the company, valued at approximately $4,643,745.66. The trade was a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 93,454 shares of company stock valued at $4,277,081 in the last three months. Corporate insiders own 12.48% of the company’s stock.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in the company. TRV GP V LLC acquired a new position in Rapport Therapeutics in the 2nd quarter valued at $261,709,477. ARCH Venture Management LLC purchased a new stake in shares of Rapport Therapeutics during the second quarter worth $155,376,512. BlackRock Inc. acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at about $112,500,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the second quarter worth about $74,360,823. Finally, TRV GP VI LLC purchased a new stake in Rapport Therapeutics during the 2nd quarter valued at about $40,387,314.

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.