Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 22,541 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock in a transaction on Monday, August 10th. The shares were sold at an average price of $46.26, for a total value of $1,042,746.66. Following the transaction, the chief executive officer owned 515,066 shares in the company, valued at approximately $23,826,953.16. This trade represents a 4.19% decrease in their ownership of the stock. The sale 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, 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, 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 Trading Down 2.2%

RAPP stock traded down $1.09 during trading hours on Wednesday, hitting $47.73. 316,893 shares of the stock traded hands, compared to its average volume of 349,796. The stock has a 50-day simple moving average of $40.25 and a 200 day simple moving average of $34.91. Rapport Therapeutics, Inc. has a one year low of $13.86 and a one year high of $49.50. The company has a market cap of $2.29 billion, a P/E ratio of -15.70 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). Analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RAPP. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Leerink Partners assumed coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price objective on the stock. HC Wainwright upped their price objective on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BTIG Research reiterated a “buy” rating and issued a $65.00 target price on shares of Rapport Therapeutics in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV acquired a new position in Rapport Therapeutics during the first quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics during the 4th quarter worth about $37,000. Russell Investments Group Ltd. purchased a new position in Rapport Therapeutics during the 3rd quarter valued at about $43,000. State of Wyoming purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after purchasing an additional 905 shares during the period.

Rapport Therapeutics Company Profile

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.