Key Points
- COO Cheryl Gault sold 10,000 Rapport Therapeutics shares for $331,900 at an average price of $33.19, reducing her direct ownership by 6.67% to 139,914 shares.
- RAPP shares opened at $32.83 and were trading below their 50-day and 200-day moving averages. The company recently reported a quarterly loss of $1.19 per share, missing estimates by $0.07.
- Despite one analyst downgrade to “sell,” Rapport has a consensus “Buy” rating and an average price target of $66.25, substantially above the current share price.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) COO Cheryl Gault sold 10,000 shares of the 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 transaction, the chief operating officer directly owned 139,914 shares of the company's stock, valued at approximately $4,643,745.66. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Rapport Therapeutics Trading Down 2.3%
RAPP stock opened at $32.83 on Friday. The firm has a 50 day moving average of $43.78 and a 200-day moving average of $38.98. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -10.80 and a beta of 1.23. Rapport Therapeutics, Inc. has a 12-month low of $23.75 and a 12-month high of $52.93.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). Sell-side analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have weighed in on the company. UBS Group set a $80.00 target price on Rapport Therapeutics in a report on Wednesday, September 23rd. Wall Street Zen downgraded Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Citigroup reiterated a "market outperform" rating on shares of Rapport Therapeutics in a research report on Wednesday, September 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Rapport Therapeutics in a research note on Tuesday, September 22nd. Finally, Leerink Partners initiated coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $66.25.
View Our Latest Report on Rapport Therapeutics
Institutional Investors Weigh In On Rapport Therapeutics
A number of large investors have recently bought and sold shares of RAPP. TRV GP V LLC acquired a new position in Rapport Therapeutics in the 2nd quarter valued at about $261,709,477. ARCH Venture Management LLC purchased a new position in Rapport Therapeutics in the 2nd quarter valued at about $155,376,512. BlackRock Inc. acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $112,500,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth about $74,360,823. Finally, TRV GP VI LLC purchased a new stake in shares of Rapport Therapeutics during the second quarter worth about $40,387,314.
Rapport Therapeutics Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
