Stock Traders Purchase High Volume of Put Options on Rapport Therapeutics (NASDAQ:RAPP)

Rapport Therapeutics, Inc. (NASDAQ:RAPP) was the recipient of some unusual options trading on Monday. Investors acquired 2,401 put options on the stock. Thisrepresentsanincreaseofapproximately3,484% compared to the average daily volume of 67 put options.

Insider Buying and Selling at Rapport Therapeutics

In other news, insider David Bredt sold 8,500 shares of Rapport Therapeutics stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.00, for a total value of $127,500.00. Following the sale, the insider directly owned 426,642 shares in the company, valued at approximately $6,399,630. This trade represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 25,500 shares of company stock valued at $365,500. 13.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in Rapport Therapeutics during the 4th quarter valued at $41,000. Corebridge Financial Inc. increased its stake in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock valued at $83,000 after purchasing an additional 3,653 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Rapport Therapeutics by 38.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,824 shares of the company’s stock valued at $86,000 after acquiring an additional 1,352 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rapport Therapeutics by 86.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after acquiring an additional 4,582 shares in the last quarter. Finally, Catalyst Private Wealth LLC acquired a new stake in shares of Rapport Therapeutics during the 1st quarter worth approximately $100,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RAPP. HC Wainwright increased their target price on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities reissued a “market outperform” rating and set a $28.00 price target on shares of Rapport Therapeutics in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.00.

Rapport Therapeutics Price Performance

Shares of RAPP stock traded up $16.89 on Monday, hitting $31.25. 11,756,941 shares of the stock traded hands, compared to its average volume of 260,319. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -12.53 and a beta of 0.71. The firm has a 50 day simple moving average of $14.68 and a two-hundred day simple moving average of $11.90. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.12. Sell-side analysts forecast that Rapport Therapeutics will post -3.65 EPS for the current year.

Rapport Therapeutics Company Profile

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.