Rapport Therapeutics (NASDAQ:RAPP) Cut to “Sell” at Wall Street Zen

Rapport Therapeutics (NASDAQ:RAPP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They issued a “buy” rating and a $44.00 price objective on the stock. Citizens Jmp boosted their target price on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a research report on Friday, November 7th. HC Wainwright upped their price target on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a “buy” rating in a report on Monday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rapport Therapeutics currently has an average rating of “Buy” and an average target price of $46.60.

Rapport Therapeutics Stock Performance

Shares of RAPP stock opened at $29.50 on Friday. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The firm has a market capitalization of $1.41 billion, a PE ratio of -10.89 and a beta of 1.63. The stock’s 50-day simple moving average is $26.96 and its 200-day simple moving average is $19.42.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.06. Sell-side analysts forecast that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Insider Activity

In other news, insider David Bredt sold 8,500 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $25.19, for a total transaction of $214,115.00. Following the sale, the insider directly owned 401,142 shares in the company, valued at $10,104,766.98. This trade represents a 2.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Abraham Ceesay sold 40,835 shares of Rapport Therapeutics stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $26.32, for a total value of $1,074,777.20. Following the completion of the transaction, the chief executive officer owned 585,412 shares of the company’s stock, valued at approximately $15,408,043.84. This represents a 6.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 120,252 shares of company stock worth $3,193,121 over the last three months. Corporate insiders own 13.57% of the company’s stock.

Institutional Trading of Rapport Therapeutics

Several institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics during the 3rd quarter worth approximately $43,000. Strs Ohio grew its stake in Rapport Therapeutics by 23.5% in the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock valued at $62,000 after acquiring an additional 400 shares during the period. Deutsche Bank AG increased its holdings in Rapport Therapeutics by 180.6% in the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock worth $65,000 after acquiring an additional 4,185 shares in the last quarter. Corebridge Financial Inc. raised its position in Rapport Therapeutics by 79.1% during the first quarter. Corebridge Financial Inc. now owns 8,271 shares of the company’s stock worth $83,000 after acquiring an additional 3,653 shares during the period. Finally, 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 worth $99,000 after acquiring an additional 4,582 shares during the period.

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.