Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $937,913.97 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock in a transaction dated 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 sale, the chief executive officer owned 467,187 shares of the company’s stock, valued at $23,158,459.59. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction 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 transaction 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 transaction of $93,063.10.

Rapport Therapeutics Trading Down 4.1%

Shares of RAPP stock opened at $48.77 on Friday. The stock has a market cap of $2.34 billion, a P/E ratio of -16.04 and a beta of 0.97. Rapport Therapeutics, Inc. has a 1 year low of $14.11 and a 1 year high of $52.93. The stock has a 50 day simple moving average of $43.40 and a 200 day simple moving average of $36.87.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Analysts forecast that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $65.00 price target on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Truist Financial began coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 target price on the stock. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. UBS Group reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a report on Monday, August 17th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $75.00 price target on shares of Rapport Therapeutics in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rapport Therapeutics has an average rating of “Buy” and an average price target of $62.86.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RAPP. KBC Group NV acquired a new stake in shares of Rapport Therapeutics in the 1st quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new position in Rapport Therapeutics in the 4th quarter valued at approximately $37,000. Russell Investments Group Ltd. bought a new position in Rapport Therapeutics in the 3rd quarter valued at approximately $43,000. State of Wyoming acquired a new stake in Rapport Therapeutics in the second quarter valued at approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Rapport Therapeutics by 64.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after buying an additional 905 shares in the last quarter.

About Rapport Therapeutics

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.