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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) Director James Healy purchased 969,480 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, October 28th. The shares were purchased at an average price of $21.00 per share, for a total transaction of $20,359,080.00. Following the transaction, the director directly owned 2,815,707 shares in the company, valued at $59,129,847. This represents a 52.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP opened at $25.05 on Friday. Rapport Therapeutics, Inc. has a 1 year low of $22.06 and a 1 year high of $52.93. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.24 and a beta of 1.22. The company’s 50 day simple moving average is $36.70 and its 200 day simple moving average is $35.57.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -4.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RAPP. TRV GP V LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $261,709,477. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics during the 2nd quarter worth about $155,376,512. BlackRock Inc. acquired a new stake in Rapport Therapeutics during the 2nd quarter worth about $112,500,000. Johnson & Johnson bought a new position in shares of Rapport Therapeutics in the 2nd quarter worth about $74,360,823. Finally, TRV GP VI LLC bought a new position in shares of Rapport Therapeutics in the 2nd quarter worth about $40,387,314.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $66.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Wolfe Research started coverage on shares of Rapport Therapeutics in a report on Thursday, October 15th. They set an “outperform” rating and a $50.00 price target on the stock. TD Cowen reiterated a “buy” rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. JonesTrading increased their price objective on shares of Rapport Therapeutics from $50.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, BTIG Research raised their target price on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $68.36.

About Rapport Therapeutics

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.