Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 2,210 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $39.17, for a total transaction of $86,565.70. Following the sale, the chief executive officer directly owned 456,767 shares in the company, valued at $17,891,563.39. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, September 8th, Abraham Ceesay sold 8,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $45.61, for a total value of $374,458.10.
• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The stock was 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 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 Down 0.9%

Shares of NASDAQ:RAPP traded down $0.30 during trading on Thursday, hitting $33.83. The stock had a trading volume of 848,481 shares, compared to its average volume of 353,622. Rapport Therapeutics, Inc. has a 12-month low of $23.75 and a 12-month high of $52.93. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.13 and a beta of 1.02. The stock has a 50-day simple moving average of $44.73 and a two-hundred day simple moving average of $38.82.

Rapport Therapeutics (NASDAQ:RAPP) last issued its 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, sell-side analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on RAPP shares. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Wednesday. HC Wainwright lifted their price objective on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Finally, UBS Group set a $80.00 target price on Rapport Therapeutics in a research note on Wednesday. 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’s stock. Based on data from MarketBeat.com, Rapport Therapeutics has an average rating of “Buy” and an average price target of $66.25.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently modified their holdings of the business. Algert Global LLC purchased a new position in Rapport Therapeutics during the second quarter worth approximately $9,327,000. Johnson & Johnson purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at approximately $74,360,823. Walleye Capital LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at approximately $4,257,000. Legal & General Group Plc acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $940,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock worth $7,025,000 after buying an additional 141,011 shares during the period.

Rapport Therapeutics Company Profile

Rapport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for disorders of the central nervous system. The company’s research centers on receptor-associated proteins, which help regulate neurotransmitter receptors and may provide opportunities to develop more selective therapies than those that target receptors broadly.

Rapport’s lead development program, RAP-219, is an orally administered investigational therapy designed to modulate AMPA receptors through their associated proteins.