Rapport Therapeutics (NASDAQ:RAPP) Reaches New 52-Week Low – Should You Sell?

Rapport Therapeutics, Inc. (NASDAQ:RAPP)’s stock price hit a new 52-week low during trading on Wednesday. The company traded as low as $21.60 and last traded at $22.4750, with a volume of 264,765 shares changing hands. The stock had previously closed at $27.54.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RAPP shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $86.00 price target on shares of Rapport Therapeutics in a report on Tuesday, October 20th. BTIG Research increased their price target on Rapport Therapeutics from $75.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. William Blair initiated coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Thursday, October 15th. Finally, Guggenheim raised their price target on shares of Rapport Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $68.36.

Rapport Therapeutics Stock Down 16.5%

The business’s 50-day moving average is $38.19 and its two-hundred day moving average is $35.64. The stock has a market capitalization of $1.10 billion, a PE ratio of -7.78 and a beta of 1.22.

Rapport Therapeutics (NASDAQ:RAPP) last posted 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). As a group, analysts anticipate that Rapport Therapeutics, Inc. will post -4.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer directly owned 486,108 shares in the company, valued at $23,338,045.08. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Cheryl Gault sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $33.19, for a total value of $331,900.00. Following the completion of the sale, the chief operating officer owned 139,914 shares of the company’s stock, valued at $4,643,745.66. This trade represents a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 61,694 shares of company stock valued at $1,664,818 and sold 97,976 shares valued at $4,391,729. 12.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rapport Therapeutics

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

Rapport Therapeutics Company Profile

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.