Rapport Therapeutics (NASDAQ:RAPP) Research Coverage Started at Guggenheim

Guggenheim started coverage on shares of Rapport Therapeutics (NASDAQ:RAPP) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $65.00 price target on the stock.

Other analysts have also issued reports about the company. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Leerink Partners began coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. BTIG Research upped their target price on shares of Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Finally, HC Wainwright increased their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $66.11.

Rapport Therapeutics Stock Down 3.3%

Shares of NASDAQ RAPP opened at $29.85 on Tuesday. The company’s 50-day simple moving average is $42.73 and its 200-day simple moving average is $39.12. Rapport Therapeutics has a 52-week low of $23.75 and a 52-week high of $52.93. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -9.82 and a beta of 1.22.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly 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). Equities research analysts anticipate that Rapport Therapeutics will post -4.09 EPS for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In related news, COO Cheryl Gault sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $33.19, for a total transaction of $331,900.00. Following the completion of the sale, the chief operating officer directly owned 139,914 shares in the company, valued at approximately $4,643,745.66. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Abraham Ceesay sold 1,147 shares of Rapport Therapeutics stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $30.66, for a total transaction of $35,167.02. Following the transaction, the chief executive officer directly owned 452,245 shares in the company, valued at $13,865,831.70. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 97,976 shares of company stock valued at $4,420,349 in the last three months. 12.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RAPP. AlphaCentric Advisors LLC increased its position in shares of Rapport Therapeutics by 6.8% during the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after acquiring an additional 408 shares during the last quarter. KBC Group NV acquired a new position in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. State of Wyoming purchased a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Swiss National Bank boosted its position in shares of Rapport Therapeutics by 3.5% during the 1st quarter. Swiss National Bank now owns 56,500 shares of the company’s stock worth $1,768,000 after purchasing an additional 1,900 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics in the 2nd quarter valued at approximately $116,000.

About Rapport Therapeutics

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.