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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.11, for a total transaction of $93,063.10. Following the sale, the chief executive officer owned 537,607 shares of the company’s stock, valued at approximately $22,638,630.77. This represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rapport Therapeutics Price Performance

RAPP opened at $40.94 on Thursday. The firm has a 50 day simple moving average of $39.16 and a 200 day simple moving average of $33.83. Rapport Therapeutics, Inc. has a fifty-two week low of $13.62 and a fifty-two week high of $44.28. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -15.75 and a beta of 0.94.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The business had revenue of $20.00 million during the quarter, compared to the consensus estimate of $7.50 million. As a group, analysts expect that Rapport Therapeutics, Inc. will post -3.33 EPS for the current year.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaCentric Advisors LLC increased its position in shares of Rapport Therapeutics by 6.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock valued at $201,000 after buying an additional 408 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Rapport Therapeutics by 56.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after acquiring an additional 828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after acquiring an additional 905 shares in the last quarter. KBC Group NV acquired a new position in Rapport Therapeutics in the first quarter valued at about $30,000. Finally, Meeder Asset Management Inc. acquired a new position in Rapport Therapeutics in the fourth quarter valued at about $37,000.

Analysts Set New Price Targets

RAPP has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Truist Financial assumed coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. BTIG Research restated a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Thursday, July 16th. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, William Blair began coverage on Rapport Therapeutics in a research note on Tuesday. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.86.

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.