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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares of the company’s stock, valued at approximately $22,638,630.77. This represents a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Rapport Therapeutics Stock Performance

RAPP stock traded down $1.02 during trading on Wednesday, reaching $40.94. The company had a trading volume of 322,686 shares, compared to its average volume of 352,968. The firm has a 50-day simple moving average of $39.06 and a 200-day simple moving average of $33.74. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -15.75 and a beta of 0.94. Rapport Therapeutics, Inc. has a twelve month low of $13.62 and a twelve month high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $7.50 million. Sell-side analysts expect that Rapport Therapeutics, Inc. will post -3.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RAPP. Raymond James Financial began coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $66.00 target price for the company. Wall Street Zen upgraded Rapport Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. William Blair started coverage on Rapport Therapeutics in a research note on Tuesday. They issued an “outperform” rating for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in Rapport Therapeutics during the 1st quarter worth about $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics in the fourth quarter worth about $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the third quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $70,000 after acquiring an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Rapport Therapeutics during the third quarter valued at approximately $143,000.

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.