Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $1,390,273.58 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 28,958 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Abraham Ceesay also recently made the following trade(s):

• On Monday, August 10th, Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock. The stock was sold at an average price of $46.26, for a total transaction of $1,042,746.66.
• On Monday, July 27th, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $42.11, for a total value of $93,063.10.

Rapport Therapeutics Stock Performance

RAPP stock traded down $1.09 during trading on Wednesday, hitting $47.73. The stock had a trading volume of 316,893 shares, compared to its average volume of 349,796. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -15.70 and a beta of 0.97. The company’s 50 day moving average price is $40.25 and its two-hundred day moving average price is $34.91. Rapport Therapeutics, Inc. has a 1-year low of $13.86 and a 1-year high of $49.50.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). As a group, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in RAPP. KBC Group NV acquired a new position in shares of Rapport Therapeutics during the 1st quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics in the 4th quarter valued at $37,000. Russell Investments Group Ltd. acquired a new position in shares of Rapport Therapeutics during the third quarter worth about $43,000. State of Wyoming acquired a new position in shares of Rapport Therapeutics during the second quarter worth about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after buying an additional 905 shares during the period.

Analyst Upgrades and Downgrades

RAPP has been the topic of a number of research analyst reports. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. William Blair assumed coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. BTIG Research restated a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday, August 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.57.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for patients with cancer. The company leverages a proprietary discovery engine to identify novel tumor-associated antigens and develop tailored biologic and small-molecule candidates designed to modulate key oncogenic pathways. With a pipeline comprising multiple preclinical and early clinical assets, Rapport is committed to advancing precision medicine approaches and addressing unmet needs in oncology.

Rapport’s discovery engine combines high-throughput screening, molecular profiling and in vivo validation to accelerate the progression of lead candidates from the laboratory to clinical evaluation.