Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $93,063.10 in Stock

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 shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the transaction, the chief executive officer directly owned 537,607 shares of the company’s stock, valued at approximately $22,638,630.77. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rapport Therapeutics Stock Performance

NASDAQ RAPP traded down $1.02 during mid-day trading on Wednesday, reaching $40.94. 322,686 shares of the stock were exchanged, compared to its average volume of 352,968. The company has a market capitalization of $1.96 billion, a P/E ratio of -15.75 and a beta of 0.94. The business’s 50 day moving average is $39.06 and its 200-day moving average is $33.74. Rapport Therapeutics, Inc. has a 1 year low of $13.62 and a 1 year high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $7.50 million. Equities analysts predict that Rapport Therapeutics, Inc. will post -3.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial started coverage on Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price target for the company. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday. They issued an “outperform” rating for the company. Leerink Partners began coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. Finally, Raymond James Financial assumed coverage on shares of Rapport Therapeutics in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.86.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors have recently bought and sold shares of the company. KBC Group NV acquired a new position in Rapport Therapeutics in the 1st quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics during the 4th quarter valued at approximately $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics during the 3rd quarter valued at approximately $43,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Rapport Therapeutics in the third quarter worth approximately $143,000.

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.