Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $374,458.10 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 8,210 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $45.61, for a total value of $374,458.10. Following the sale, the chief executive officer directly owned 458,977 shares in the company, valued at $20,933,940.97. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The shares were sold at an average price of $49.57, for a total value of $937,913.97.
• On Tuesday, August 11th, Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58.
• 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 value 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 value of $93,063.10.

Rapport Therapeutics Stock Performance

Shares of RAPP traded down $2.21 during midday trading on Wednesday, hitting $43.88. The company had a trading volume of 437,730 shares, compared to its average volume of 342,235. The company’s 50-day simple moving average is $44.46 and its 200-day simple moving average is $37.88. The firm has a market capitalization of $2.11 billion, a P/E ratio of -14.43 and a beta of 1.02. Rapport Therapeutics, Inc. has a 1 year low of $22.06 and a 1 year high of $52.93.

Rapport Therapeutics (NASDAQ:RAPP) last released its 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). Equities analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Institutional Trading of Rapport Therapeutics

Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new position in shares of Rapport Therapeutics in the 1st quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics during the 4th quarter worth $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the 3rd quarter worth $43,000. State of Wyoming purchased a new stake in Rapport Therapeutics in the second quarter valued at $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after acquiring an additional 4,582 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RAPP. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. BTIG Research reiterated a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. William Blair assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Finally, Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Rapport Therapeutics has an average rating of “Buy” and an average target price of $62.86.

About Rapport Therapeutics

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.