Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 28,958 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total value of $1,390,273.58. Following the sale, the chief executive officer directly owned 486,108 shares in the company, valued at approximately $23,338,045.08. The trade was a 5.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 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 NASDAQ RAPP opened at $47.73 on Thursday. Rapport Therapeutics, Inc. has a 1 year low of $13.86 and a 1 year high of $49.50. The firm has a market cap of $2.29 billion, a P/E ratio of -15.70 and a beta of 0.97. The stock has a fifty day moving average price of $40.46 and a two-hundred day moving average price of $35.05.

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

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 5th. Finally, Leerink Partners began coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.57.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of RAPP. AlphaCentric Advisors LLC boosted 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 purchasing an additional 408 shares during the period. Russell Investments Group Ltd. raised its holdings in Rapport Therapeutics by 56.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,282 shares of the company’s stock worth $69,000 after buying an additional 828 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $70,000 after buying an additional 905 shares in the last quarter. KBC Group NV acquired a new position in shares of Rapport Therapeutics in the first quarter worth about $30,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Rapport Therapeutics in the fourth quarter worth about $37,000.

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.