Insider Buying: Rapport Therapeutics (NASDAQ:RAPP) CFO Acquires $143,550.00 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CFO Troy Ignelzi purchased 5,500 shares of Rapport Therapeutics stock in a transaction dated Wednesday, October 21st. The stock was bought at an average cost of $26.10 per share, with a total value of $143,550.00. Following the completion of the purchase, the chief financial officer owned 15,500 shares in the company, valued at approximately $404,550. This trade represents a 55.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock traded down $4.31 on Wednesday, hitting $25.06. The company had a trading volume of 2,153,131 shares, compared to its average volume of 401,858. The business has a 50-day simple moving average of $40.31 and a 200-day simple moving average of $39.13. The company has a market cap of $1.20 billion, a PE ratio of -8.24 and a beta of 1.22. Rapport Therapeutics, Inc. has a 52 week low of $23.75 and a 52 week high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, equities research analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim lifted their price target on Rapport Therapeutics from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday. JonesTrading boosted their price objective on Rapport Therapeutics from $50.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup restated an “outperform” rating on shares of Rapport Therapeutics in a report on Tuesday. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $86.00 target price on shares of Rapport Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $68.36.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in RAPP. TRV GP V LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $261,709,477. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $155,376,512. BlackRock Inc. bought a new stake in Rapport Therapeutics during the second quarter worth approximately $112,500,000. Johnson & Johnson bought a new stake in Rapport Therapeutics during the second quarter worth approximately $74,360,823. Finally, TRV GP VI LLC bought a new stake in Rapport Therapeutics during the second quarter worth approximately $40,387,314.

Key Headlines Impacting Rapport Therapeutics

Here are the key news stories impacting Rapport Therapeutics this week:

• Positive Sentiment: RAP-219 met the primary and secondary endpoints in a Phase 2 bipolar mania trial, producing statistically significant placebo-adjusted improvements at Week 3 in the YMRS total score and CGI-BP Severity of Mania score. Rapport Therapeutics Announces Positive Topline Results from its Phase 2 Trial
• Positive Sentiment: Rapport plans to advance RAP-219 into Phase 3 trials for bipolar mania, strengthening the development path for a potentially important new treatment mechanism. Rapport plans Phase III bipolar mania trials
• Positive Sentiment: Analysts raised their valuations following the results: JonesTrading increased its target to $82 and Raymond James raised its target to $86 while maintaining a Strong Buy rating. BTIG Research also lifted its target to $89, and HC Wainwright reaffirmed Buy with a $66 target.
• Positive Sentiment: Jefferies estimated RAP-219 could represent a potential $1 billion peak-sales opportunity if successfully developed and commercialized. Inside the $1 Billion Blockbuster Opportunity
• Neutral Sentiment: Although the trial achieved its stated goals, coverage described the benefit as relatively limited and noted that the data fell short of the more ambitious expectations some investors may have had. Rapport’s phase 2 bipolar win strikes chord with analysts
• Negative Sentiment: The stock’s decline following the news likely reflects profit-taking after its sharp initial move, along with concerns about valuation, execution risk, and the need for successful Phase 3 results before RAP-219 can generate commercial revenue. A recent article had characterized the shares as expensive after a substantial monthly decline. Rapport Therapeutics stock seems pricey

About Rapport Therapeutics

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.