Rapport Therapeutics (NASDAQ:RAPP) Insider Sells $255,170.00 in Stock

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

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 Performance

Shares of NASDAQ RAPP traded up $1.16 during midday trading on Tuesday, hitting $30.76. 268,120 shares of the company’s stock traded hands, compared to its average volume of 369,833. The firm has a fifty day moving average of $27.06 and a 200 day moving average of $20.36. Rapport Therapeutics, Inc. has a 1 year low of $6.43 and a 1 year high of $42.27. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -11.35 and a beta of 1.63.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, November 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.06. On average, equities analysts anticipate that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RAPP. Affinity Asset Advisors LLC bought a new stake in Rapport Therapeutics during the 2nd quarter valued at approximately $2,270,000. Nuveen LLC purchased a new stake in Rapport Therapeutics during the 1st quarter valued at approximately $219,000. TD Asset Management Inc raised its position in shares of Rapport Therapeutics by 20.9% during the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after buying an additional 34,052 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rapport Therapeutics by 23.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company’s stock worth $912,000 after buying an additional 17,459 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Rapport Therapeutics by 77.2% in the first quarter. Swiss National Bank now owns 31,900 shares of the company’s stock worth $320,000 after buying an additional 13,900 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RAPP shares. Citizens Jmp boosted their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. BTIG Research reissued a “buy” rating and set a $47.00 price target on shares of Rapport Therapeutics in a report on Monday, December 8th. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. Truist Financial initiated coverage on Rapport Therapeutics in a research report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.