Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 2,210 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $39.17, for a total transaction of $86,565.70. Following the transaction, the chief executive officer owned 456,767 shares of the company’s stock, valued at $17,891,563.39. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 transaction of $374,458.10.
• 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 transaction 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 transaction 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 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 Price Performance

RAPP stock traded down $0.30 during trading on Thursday, hitting $33.83. The stock had a trading volume of 848,481 shares, compared to its average volume of 353,622. Rapport Therapeutics, Inc. has a twelve month low of $23.75 and a twelve month high of $52.93. The stock has a market capitalization of $1.62 billion, a P/E ratio of -11.13 and a beta of 1.02. The company’s 50-day moving average price is $44.73 and its two-hundred day moving average price is $38.82.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, sell-side analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Institutional Trading of Rapport Therapeutics

Several large investors have recently added to or reduced their stakes in RAPP. KBC Group NV acquired a new stake in shares of Rapport Therapeutics in the 1st quarter worth $30,000. State of Wyoming acquired a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $65,000. Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $116,000. AlphaCentric Advisors LLC grew its holdings in shares of Rapport Therapeutics by 6.8% in the first quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after purchasing an additional 408 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Rapport Therapeutics in the first quarter valued at about $215,000.

Analyst Ratings Changes

RAPP has been the subject of several recent research reports. HC Wainwright increased their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Wednesday. Leerink Partners initiated coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 target price for the company. Finally, UBS Group set a $80.00 price target on shares of Rapport Therapeutics in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.25.

Rapport Therapeutics Company Profile

Rapport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for disorders of the central nervous system. The company’s research centers on receptor-associated proteins, which help regulate neurotransmitter receptors and may provide opportunities to develop more selective therapies than those that target receptors broadly.

Rapport’s lead development program, RAP-219, is an orally administered investigational therapy designed to modulate AMPA receptors through their associated proteins.