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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 22,541 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $46.26, for a total transaction of $1,042,746.66. Following the completion of the transaction, the chief executive officer owned 515,066 shares of the company’s stock, valued at $23,826,953.16. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, August 11th, Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58.
• On Monday, July 27th, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $42.11, for a total value of $93,063.10.

Rapport Therapeutics Price Performance

RAPP opened at $47.36 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.58 and a beta of 0.97. Rapport Therapeutics, Inc. has a 1-year low of $13.86 and a 1-year high of $49.50. The business has a 50 day moving average price of $40.66 and a two-hundred day moving average price of $35.20.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RAPP. KBC Group NV bought a new position in Rapport Therapeutics during the first quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter worth $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the 3rd quarter worth $43,000. State of Wyoming bought a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $65,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 905 shares during the last quarter.

Analyst Ratings Changes

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

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.