Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 1,147 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 1,147 shares of Rapport Therapeutics stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $30.66, for a total value of $35,167.02. Following the sale, the chief executive officer directly owned 452,245 shares of the company’s stock, valued at $13,865,831.70. This trade represents a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 6th, Abraham Ceesay sold 3,375 shares of Rapport Therapeutics stock. The stock was sold at an average price of $32.03, for a total value of $108,101.25.
• On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $39.17, for a total value of $86,565.70.
• 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 transaction of $374,458.10.
• 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 transaction 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 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 3.3%

NASDAQ:RAPP traded down $1.01 during midday trading on Thursday, hitting $29.85. 236,728 shares of the company were exchanged, compared to its average volume of 356,361. The company has a fifty day simple moving average of $42.99 and a 200 day simple moving average of $39.10. Rapport Therapeutics, Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $52.93. The company has a market capitalization of $1.43 billion, a PE ratio of -9.82 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RAPP. UBS Group set a $80.00 target price on Rapport Therapeutics in a research report on Wednesday, September 23rd. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Wednesday, September 23rd. William Blair assumed coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. HC Wainwright increased their price target on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TRV GP V LLC acquired a new position in shares of Rapport Therapeutics in the second quarter valued at approximately $261,709,477. ARCH Venture Management LLC acquired a new stake in shares of Rapport Therapeutics during the second quarter worth $155,376,512. BlackRock Inc. acquired a new stake in shares of Rapport Therapeutics during the second quarter worth $112,500,000. Goldman Sachs Group Inc. grew its position in Rapport Therapeutics by 23.9% in the 4th 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 during the last quarter. Finally, Johnson & Johnson acquired a new position in Rapport Therapeutics in the 2nd quarter valued at $74,360,823.

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.

Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.