Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $1,390,273.58 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 28,958 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the completion of the sale, the chief executive officer owned 486,108 shares of the company’s stock, valued at approximately $23,338,045.08. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 10th, Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock. The stock was 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 stock was sold at an average price of $42.11, for a total value of $93,063.10.

Rapport Therapeutics Trading Up 0.1%

Shares of RAPP stock opened at $47.42 on Friday. The stock has a 50 day simple moving average of $40.89 and a 200-day simple moving average of $35.28. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -15.60 and a beta of 0.97. Rapport Therapeutics, Inc. has a 12-month low of $13.86 and a 12-month high of $49.50.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results 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). On average, equities analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on RAPP. Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. HC Wainwright boosted their price objective on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One investment 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 data from MarketBeat, Rapport Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TRV GP V LLC purchased a new stake in Rapport Therapeutics during the second quarter worth $261,709,477,000. ARCH Venture Management LLC purchased a new position in shares of Rapport Therapeutics in the second quarter valued at $155,376,512,000. Goldman Sachs Group Inc. increased its position in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after buying an additional 579,903 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Rapport Therapeutics in the second quarter valued at $112,500,000. Finally, Vanguard Group Inc. raised its stake in shares of Rapport Therapeutics by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after buying an additional 191,219 shares during the last quarter.

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.