Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) Director Paul Silva acquired 3,680 shares of the firm's stock in a transaction on Thursday, October 22nd. The stock was purchased at an average price of $27.07 per share, for a total transaction of $99,617.60. Following the transaction, the director directly owned 3,680 shares of the company's stock, valued at approximately $99,617.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rapport Therapeutics Stock Up 5.9%
Shares of NASDAQ:RAPP opened at $26.53 on Friday. The company has a 50-day moving average price of $39.44 and a 200-day moving average price of $39.02. 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 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). Equities analysts expect that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.
Key Rapport Therapeutics News
Here are the key news stories impacting Rapport Therapeutics this week:
- Positive Sentiment: RAP-219 achieved both Phase 2 endpoints in bipolar mania. The candidate produced statistically significant placebo-adjusted improvements in YMRS and CGI-BP mania-severity scores. Rapport plans to begin Phase 3 trials, potentially expanding RAP-219’s commercial opportunity beyond epilepsy. Rapport Therapeutics Announces Positive Topline Results
- Positive Sentiment: Analysts increased or maintained bullish valuations. JonesTrading raised its target to $82, while BTIG reportedly lifted its target to $89. Raymond James raised its target to $86, and HC Wainwright reaffirmed its Buy rating. The consensus target is approximately $68.36, well above recent trading levels. BTIG price target increase
- Positive Sentiment: Company insiders made substantial open-market purchases. CFO Troy Ignelzi bought 5,500 shares, while four directors purchased an additional 52,594 shares. The combined purchases were worth approximately $1.57 million and may signal management confidence following the clinical update. SEC insider filings
- Neutral Sentiment: RAP-219’s move toward Phase 3 is an important milestone, but investors still face clinical, regulatory, financing, and commercialization uncertainty typical of a clinical-stage biotechnology company.
- Negative Sentiment: The clinical results may have been less decisive than some investors expected. Reports indicated that portions of the data narrowly met expectations, potentially limiting enthusiasm after the initial rally. Rapport also remains unprofitable; its latest quarterly loss exceeded analyst expectations, and analysts forecast a full-year loss of approximately $4.09 per share. Rapport bipolar data report
Hedge Funds Weigh In On Rapport Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. TRV GP V LLC purchased a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at about $261,709,477. ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics in the second quarter worth approximately $155,376,512. BlackRock Inc. bought a new stake in shares of Rapport Therapeutics in the second quarter worth approximately $112,500,000. Johnson & Johnson purchased a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $74,360,823. Finally, TRV GP VI LLC purchased a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $40,387,314.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on RAPP shares. HC Wainwright reiterated a "buy" rating and set a $66.00 price target on shares of Rapport Therapeutics in a report on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Thursday, October 15th. BTIG Research boosted their price objective on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the stock a "buy" rating in a report on Tuesday. Wolfe Research assumed coverage on Rapport Therapeutics in a research report on Thursday, October 15th. They issued an "outperform" rating and a $50.00 price objective on the stock. Finally, JonesTrading increased their target price on Rapport Therapeutics from $50.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $68.36.
Check Out Our Latest Research Report on Rapport Therapeutics
About Rapport Therapeutics
(
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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