Citizens Jmp Increases Rapport Therapeutics (NASDAQ:RAPP) Price Target to $80.00

Rapport Therapeutics (NASDAQ:RAPP) had its price target boosted by stock analysts at Citizens Jmp from $77.00 to $80.00 in a report released on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would indicate a potential upside of 211.77% from the stock’s current price.

Several other research firms have also issued reports on RAPP. Wall Street Zen upgraded shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. HC Wainwright lifted their target price on Rapport Therapeutics from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, September 8th. The Goldman Sachs Group raised Rapport Therapeutics to a “strong-buy” rating in a research report on Friday, September 12th. Truist Financial assumed coverage on Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Rapport Therapeutics Trading Up 1.2%

Shares of Rapport Therapeutics stock opened at $25.66 on Friday. The company’s 50-day moving average price is $25.48 and its two-hundred day moving average price is $17.16. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $42.27. The stock has a market cap of $936.59 million, a PE ratio of -9.47 and a beta of 1.64.

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

Insiders Place Their Bets

In other news, COO Cheryl Gault sold 5,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $38.33, for a total value of $191,650.00. Following the completion of the sale, the chief operating officer owned 171,928 shares of the company’s stock, valued at $6,590,000.24. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendy B. Young purchased 3,500 shares of the stock in a transaction dated Thursday, September 11th. The shares were acquired at an average price of $22.60 per share, for a total transaction of $79,100.00. Following the acquisition, the director directly owned 9,500 shares of the company’s stock, valued at $214,700. This represents a 58.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 109,336 shares of company stock worth $2,831,481 over the last three months. Company insiders own 13.57% of the company’s stock.

Hedge Funds Weigh In On Rapport Therapeutics

A number of large investors have recently made changes to their positions in the business. Nuveen LLC acquired a new position in Rapport Therapeutics in the 1st quarter valued at approximately $219,000. XTX Topco Ltd purchased a new position in shares of Rapport Therapeutics during the 1st quarter valued at $155,000. Bank of New York Mellon Corp increased its stake in shares of Rapport Therapeutics by 77.7% in the first quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company’s stock worth $356,000 after acquiring an additional 15,514 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Rapport Therapeutics by 20.9% in the second quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock worth $2,238,000 after acquiring an additional 34,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rapport Therapeutics by 23.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company’s stock worth $912,000 after acquiring an additional 17,459 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.