Key Points
- CFO Troy Ignelzi bought 5,500 Rapport Therapeutics shares at $26.10 each, investing $143,550 and increasing his direct stake by 55% to 15,500 shares.
- Rapport’s stock opened at $25.06 after falling 14.7%; the company’s latest quarterly loss of $1.19 per share missed analysts’ $1.12 estimate, highlighting ongoing development-stage risks.
- Analysts remain broadly bullish, with a consensus “Buy” rating and $68.36 price target. The optimism follows positive Phase 2 results for RAP-219 in bipolar mania, which the company plans to advance into Phase 3.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CFO Troy Ignelzi acquired 5,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 21st. The stock was acquired at an average price of $26.10 per share, for a total transaction of $143,550.00. Following the completion of the acquisition, the chief financial officer directly owned 15,500 shares of the company's stock, valued at $404,550. The trade was a 55.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Rapport Therapeutics Trading Down 14.7%
Shares of Rapport Therapeutics stock opened at $25.06 on Thursday. Rapport Therapeutics, Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $52.93. The stock has a 50 day moving average of $39.86 and a 200 day moving average of $39.07.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Research analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.
Hedge Funds Weigh In On Rapport Therapeutics
A number of hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in Rapport Therapeutics in the second quarter valued at approximately $888,000. Wellington Management Group LLP lifted its stake in Rapport Therapeutics by 11.2% during the second quarter. Wellington Management Group LLP now owns 86,988 shares of the company's stock worth $3,625,000 after purchasing an additional 8,757 shares in the last quarter. Artia Global Partners LP acquired a new position in Rapport Therapeutics during the second quarter worth $5,772,000. Bank of America Corp DE purchased a new position in shares of Rapport Therapeutics during the second quarter worth $3,170,000. Finally, Jupiter Topco LLC purchased a new position in shares of Rapport Therapeutics during the second quarter worth $574,000.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on RAPP. William Blair started coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They set an "outperform" rating for the company. Leerink Partners began coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price objective on the stock. Citigroup restated an "outperform" rating on shares of Rapport Therapeutics in a report on Tuesday. UBS Group started coverage on shares of Rapport Therapeutics in a research report on Thursday, October 15th. They issued a "buy" rating and a $71.00 target price on the stock. Finally, JonesTrading increased their target price on shares of Rapport Therapeutics from $50.00 to $82.00 and gave the stock a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $68.36.
Check Out Our Latest Stock Analysis on RAPP
Key Rapport Therapeutics News
Here are the key news stories impacting Rapport Therapeutics this week:
- Positive Sentiment: RAP-219 met both Phase 2 endpoints in bipolar mania. The trial showed statistically significant placebo-adjusted improvements at Week 3 in the YMRS total score and CGI-BP Severity of Mania score. Rapport plans to advance the treatment into Phase 3, potentially supporting a major expansion of its pipeline value. Rapport Therapeutics Announces Positive Topline Results
- Positive Sentiment: Analysts raised their valuations following the results. BTIG lifted its price target to $89, JonesTrading to $82, Raymond James to $86, and HC Wainwright reaffirmed a $66 target; all maintained bullish ratings. Analysts cited the potential for RAP-219 to address a large bipolar-mania market, with estimated peak sales potentially reaching $1 billion. Inside the $1 Billion Blockbuster Opportunity
- Positive Sentiment: CFO Troy Ignelzi purchased 5,500 shares at an average price of $26.10, increasing his direct ownership by 55%. The insider purchase may signal management confidence in the company’s outlook. SEC insider ownership filing
- Neutral Sentiment: Rapport’s Phase 2 success moves RAP-219 toward Phase 3, but investors still face the usual biotechnology risks, including clinical development, regulatory, commercial, and financing uncertainty.
- Negative Sentiment: The clinical win was viewed as narrower than initially hoped. Reports noted that RAP-219 only narrowly met some expectations, which may have encouraged selling after the stock’s strong reaction to the announcement. The company also recently reported quarterly EPS below consensus, underscoring its ongoing losses and development-stage risk. Rapport bipolar data strikes a chord despite missing target
Rapport Therapeutics Company Profile
(
Get Free Report)
Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company's approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.
Rapport's lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.
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