Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 8,210 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 8,210 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $45.61, for a total value of $374,458.10. Following the transaction, the chief executive officer directly owned 458,977 shares in the company, valued at approximately $20,933,940.97. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The shares were sold at an average price of $49.57, for a total value 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 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 Stock Down 4.8%

Shares of RAPP stock opened at $43.88 on Thursday. Rapport Therapeutics, Inc. has a 12 month low of $22.06 and a 12 month high of $52.93. The business’s 50 day moving average is $44.55 and its two-hundred day moving average is $37.97. The company has a market cap of $2.11 billion, a PE ratio of -14.43 and a beta of 1.02.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright increased their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Truist Financial started coverage on Rapport Therapeutics in a research report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. William Blair assumed coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They set an “outperform” rating for the company. UBS Group reissued a “strong-buy” rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. Finally, BTIG Research restated a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rapport Therapeutics currently has a consensus rating of “Buy” and an average target price of $62.86.

Hedge Funds Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Rapport Therapeutics during the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $43,000. State of Wyoming bought a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $65,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Rapport Therapeutics by 86.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after purchasing an additional 4,582 shares in 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.