Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 1,147 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 1,147 shares of the stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $30.66, for a total value of $35,167.02. Following the sale, the chief executive officer directly owned 452,245 shares in the company, valued at $13,865,831.70. This trade represents a 0.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, October 6th, Abraham Ceesay sold 3,375 shares of Rapport Therapeutics stock. The stock was sold at an average price of $32.03, for a total value of $108,101.25.
• On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $39.17, for a total value of $86,565.70.
• On Tuesday, September 8th, Abraham Ceesay sold 8,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $45.61, for a total value of $374,458.10.
• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The stock was sold at an average price of $49.57, for a total transaction of $937,913.97.
• On Tuesday, August 11th, Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58.
• On Monday, August 10th, Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock. The shares were 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 shares were sold at an average price of $42.11, for a total transaction of $93,063.10.

Rapport Therapeutics Trading Up 2.7%

Rapport Therapeutics stock opened at $30.65 on Friday. Rapport Therapeutics, Inc. has a 1-year low of $23.75 and a 1-year high of $52.93. The firm has a market capitalization of $1.47 billion, a PE ratio of -10.08 and a beta of 1.22. The firm’s 50 day simple moving average is $42.52 and its 200 day simple moving average is $39.06.

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

Wall Street Analyst Weigh In

RAPP has been the topic of a number of research analyst reports. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. BTIG Research boosted their price objective on Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Guggenheim initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, UBS Group set a $80.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $66.11.

Institutional Investors Weigh In On Rapport Therapeutics

A number of large investors have recently added to or reduced their stakes in RAPP. Algert Global LLC purchased a new position in shares of Rapport Therapeutics during the second quarter worth approximately $9,327,000. Johnson & Johnson purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $74,360,823. Legal & General Group Plc purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $940,000. Walleye Capital LLC bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $4,257,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $3,426,000.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.

Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.