Rapport Therapeutics (NASDAQ:RAPP) Stock Rating Upgraded by UBS Group

Rapport Therapeutics (NASDAQ:RAPP) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Several other equities research analysts also recently weighed in on RAPP. Guggenheim assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, October 6th. They issued a “buy” rating and a $65.00 target price for the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Tuesday, September 22nd. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright raised 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. Finally, William Blair initiated coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $63.60.

Rapport Therapeutics Price Performance

Shares of RAPP stock traded down $2.00 during mid-day trading on Wednesday, hitting $27.57. 412,062 shares of the stock traded hands, compared to its average volume of 474,827. The stock has a market cap of $1.32 billion, a P/E ratio of -9.07 and a beta of 1.22. The stock’s fifty day moving average is $41.07 and its two-hundred day moving average is $39.08. Rapport Therapeutics has a 52-week low of $23.75 and a 52-week high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data 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). As a group, 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 1,147 shares of the company’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $30.66, for a total transaction of $35,167.02. Following the transaction, the chief executive officer owned 452,245 shares in the company, valued at approximately $13,865,831.70. This represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Cheryl Gault sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $33.19, for a total transaction of $331,900.00. Following the completion of the transaction, the chief operating officer directly owned 139,914 shares of the company’s stock, valued at approximately $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 sold a total of 97,976 shares of company stock valued at $4,420,349 over the last quarter. 12.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rapport Therapeutics

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

Rapport Therapeutics Company Profile

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.