Key Points
- Director James Healy purchased 969,480 Rapport Therapeutics shares at $21 each, investing approximately $20.36 million and increasing his stake by 52.51% to 2.82 million shares.
- Rapport shares opened at $25.05, with a $1.20 billion market capitalization and a 52-week range of $22.06 to $52.93. The company recently reported a quarterly loss of $1.19 per share, missing estimates by $0.07.
- Analysts maintain a consensus “Buy” rating with an average price target of $68.36, while several firms recently issued buy or outperform ratings; institutional investors, including Johnson & Johnson, also established new positions.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) Director James Healy purchased 969,480 shares of the company's stock in a transaction on Wednesday, October 28th. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $20,359,080.00. Following the completion of the purchase, the director owned 2,815,707 shares of the company's stock, valued at approximately $59,129,847. This trade represents a 52.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rapport Therapeutics Stock Performance
Rapport Therapeutics stock opened at $25.05 on Friday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.24 and a beta of 1.22. Rapport Therapeutics, Inc. has a 52-week low of $22.06 and a 52-week high of $52.93. The stock's 50 day moving average price is $36.70 and its two-hundred day moving average price is $35.57.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.07). On average, equities research analysts forecast that Rapport Therapeutics, Inc. will post -4.08 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Citigroup restated an "outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, October 20th. BTIG Research upped their price objective on shares of Rapport Therapeutics from $75.00 to $89.00 and gave the company a "buy" rating in a report on Tuesday, October 20th. TD Cowen reissued a "buy" rating on shares of Rapport Therapeutics in a research report on Tuesday, October 20th. HC Wainwright restated a "buy" rating and issued a $66.00 target price on shares of Rapport Therapeutics in a research note on Tuesday, October 20th. Finally, Wall Street Zen downgraded Rapport Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $68.36.
Read Our Latest Stock Analysis on Rapport Therapeutics
Institutional Trading of Rapport Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the business. Algert Global LLC acquired a new position in Rapport Therapeutics during the second quarter worth $9,327,000. Johnson & Johnson bought a new position in shares of Rapport Therapeutics in the second quarter valued at $74,360,823. Legal & General Group Plc acquired a new position in shares of Rapport Therapeutics during the second quarter valued at about $940,000. Walleye Capital LLC acquired a new position in shares of Rapport Therapeutics during the second quarter valued at about $4,257,000. Finally, Bank of America Corp DE acquired a new position in shares of Rapport Therapeutics during the second quarter valued at about $3,170,000.
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.
Read More
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].
