Rapport Therapeutics (NASDAQ:RAPP) CEO Sells 18,921 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 18,921 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $49.57, for a total transaction of $937,913.97. Following the completion of the transaction, the chief executive officer owned 467,187 shares of the company’s stock, valued at approximately $23,158,459.59. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 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 Stock Up 2.6%

Shares of Rapport Therapeutics stock traded up $1.33 on Wednesday, reaching $52.50. The company’s stock had a trading volume of 275,270 shares, compared to its average volume of 343,564. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -17.27 and a beta of 0.97. The firm’s fifty day simple moving average is $42.59 and its two-hundred day simple moving average is $36.43. Rapport Therapeutics, Inc. has a 52 week low of $14.11 and a 52 week high of $52.83.

Rapport Therapeutics (NASDAQ:RAPP) last announced 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). As a group, research analysts predict that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RAPP. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. William Blair assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating for the company. UBS Group reissued a “strong-buy” rating on shares of Rapport Therapeutics in a report on Monday, August 17th. Finally, Truist Financial assumed coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rapport Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $62.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. TRV GP V LLC bought a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at $261,709,477,000. ARCH Venture Management LLC bought a new position in Rapport Therapeutics in the 2nd quarter worth $155,376,512,000. BlackRock Inc. bought a new position in Rapport Therapeutics in the 2nd quarter worth $112,500,000. Johnson & Johnson purchased a new position in Rapport Therapeutics during the second quarter valued at $74,360,823,000. Finally, California State Teachers Retirement System lifted its position in Rapport Therapeutics by 3,951.4% during the second quarter. California State Teachers Retirement System now owns 1,354,233 shares of the company’s stock valued at $56,431,000 after purchasing an additional 1,320,807 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.