Insider Buying: Rapport Therapeutics (NASDAQ:RAPP) Director Acquires 3,500 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) Director Wendy Young purchased 3,500 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were purchased at an average cost of $22.60 per share, for a total transaction of $79,100.00. Following the completion of the purchase, the director directly owned 9,500 shares of the company’s stock, valued at approximately $214,700. This represents a 58.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rapport Therapeutics Trading Up 2.4%

Shares of RAPP stock opened at $23.76 on Friday. The business’s 50-day moving average price is $16.09 and its 200-day moving average price is $12.36. Rapport Therapeutics, Inc. has a 12 month low of $6.43 and a 12 month high of $42.27. The firm has a market capitalization of $867.24 million, a price-to-earnings ratio of -9.50 and a beta of 0.73.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.12. On average, sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RAPP. Wall Street Zen raised Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. JMP Securities reaffirmed a “market outperform” rating and issued a $28.00 price objective on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Finally, HC Wainwright lifted their price objective on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.00.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RAPP. Deutsche Bank AG bought a new stake in Rapport Therapeutics in the fourth quarter worth approximately $41,000. Corebridge Financial Inc. increased its holdings in Rapport Therapeutics by 79.1% in the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after purchasing an additional 3,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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. Catalyst Private Wealth LLC bought a new stake in shares of Rapport Therapeutics during the first quarter valued at approximately $100,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Rapport Therapeutics by 90.2% during the first quarter. MetLife Investment Management LLC now owns 10,863 shares of the company’s stock valued at $109,000 after acquiring an additional 5,153 shares in the last quarter.

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.