Rapport Therapeutics (NASDAQ:RAPP) Rating Lowered to Sell at Wall Street Zen

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

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group upgraded Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Wednesday, October 8th. BTIG Research assumed coverage on shares of Rapport Therapeutics in a research report on Wednesday, November 19th. They issued a “buy” rating and a $47.00 price target on the stock. Citizens Jmp raised their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a report on Friday, November 7th. Finally, HC Wainwright boosted their target price 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. Two equities research 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. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Buy” and a consensus price target of $46.60.

Rapport Therapeutics Trading Up 2.8%

Rapport Therapeutics stock opened at $29.50 on Friday. The business’s 50 day simple moving average is $26.96 and its 200 day simple moving average is $19.42. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $42.27. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -10.89 and a beta of 1.63.

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

Insider Activity

In other news, COO Cheryl Gault sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $38.33, for a total value of $191,650.00. Following the completion of the transaction, the chief operating officer directly owned 171,928 shares in the company, valued at approximately $6,590,000.24. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Bredt sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $25.19, for a total transaction of $214,115.00. Following the transaction, the insider directly owned 401,142 shares of the company’s stock, valued at approximately $10,104,766.98. This represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,252 shares of company stock valued at $3,193,121 over the last ninety days. 13.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Rapport Therapeutics during the first quarter valued at $155,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Rapport Therapeutics by 23.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company’s stock valued at $912,000 after acquiring an additional 17,459 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Rapport Therapeutics by 180.6% in the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company’s stock valued at $65,000 after acquiring an additional 4,185 shares in the last quarter. Swiss National Bank boosted its position in shares of Rapport Therapeutics by 77.2% during the 1st quarter. Swiss National Bank now owns 31,900 shares of the company’s stock valued at $320,000 after acquiring an additional 13,900 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Rapport Therapeutics during the first quarter worth about $219,000.

About Rapport Therapeutics

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.