Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 3,375 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 3,375 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $32.03, for a total transaction of $108,101.25. Following the sale, the chief executive officer directly owned 453,392 shares of the company’s stock, valued at $14,522,145.76. The trade was a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, October 7th, Abraham Ceesay sold 1,147 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.66, for a total transaction of $35,167.02.
• On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $39.17, for a total transaction of $86,565.70.
• On Tuesday, September 8th, Abraham Ceesay sold 8,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $45.61, for a total transaction of $374,458.10.
• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The stock was sold at an average price of $49.57, for a total transaction of $937,913.97.
• 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, August 10th, Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock. The shares were 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 Price Performance

RAPP opened at $29.85 on Friday. Rapport Therapeutics, Inc. has a one year low of $23.75 and a one year high of $52.93. The business has a 50 day simple moving average of $42.73 and a two-hundred day simple moving average of $39.12. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -9.82 and a beta of 1.22.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. KBC Group NV bought a new stake in Rapport Therapeutics during the first quarter worth about $30,000. State of Wyoming bought a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $65,000. Meeder Asset Management Inc. bought a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $116,000. AlphaCentric Advisors LLC lifted its holdings in shares of Rapport Therapeutics by 6.8% during the first 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 last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Rapport Therapeutics during the first quarter valued at approximately $215,000.

Analyst Ratings Changes

A number of brokerages have issued reports on RAPP. Wall Street Zen downgraded shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Tuesday, September 22nd. Guggenheim began coverage on shares of Rapport Therapeutics in a research note on Tuesday. They set a “buy” rating and a $65.00 target price on the stock. Leerink Partners assumed coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target on the stock. Finally, UBS Group set a $80.00 price target on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $66.11.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.

Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.