Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $172,890.12 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 5,833 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $29.64, for a total transaction of $172,890.12. Following the transaction, the chief executive officer owned 567,913 shares in the company, valued at approximately $16,832,941.32. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, December 17th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $29.63, for a total value of $150,609.29.
• On Monday, November 17th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.20, for a total value of $128,091.60.
• On Monday, November 17th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.19, for a total transaction of $146,933.27.
• On Wednesday, October 15th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $25.81, for a total transaction of $131,192.23.
• On Wednesday, October 15th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.81, for a total value of $150,549.73.

Rapport Therapeutics Stock Up 3.3%

Shares of Rapport Therapeutics stock traded up $0.96 during midday trading on Thursday, hitting $29.64. The company had a trading volume of 348,350 shares, compared to its average volume of 369,977. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -10.94 and a beta of 1.63. Rapport Therapeutics, Inc. has a 12-month low of $6.43 and a 12-month high of $42.27. The company has a fifty day simple moving average of $27.18 and a 200 day simple moving average of $20.57.

Rapport Therapeutics (NASDAQ:RAPP) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.06. As a group, analysts expect that Rapport Therapeutics, Inc. will post -3.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAPP. Baker BROS. Advisors LP grew its stake in Rapport Therapeutics by 181.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,547,090 shares of the company’s stock worth $45,949,000 after buying an additional 997,000 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Rapport Therapeutics in the third quarter valued at approximately $28,215,000. Polar Capital Holdings Plc purchased a new position in shares of Rapport Therapeutics during the third quarter worth approximately $27,887,000. Capital International Investors increased its holdings in shares of Rapport Therapeutics by 30.7% in the 3rd quarter. Capital International Investors now owns 3,402,529 shares of the company’s stock valued at $101,055,000 after acquiring an additional 800,000 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Rapport Therapeutics by 265.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 892,258 shares of the company’s stock valued at $26,500,000 after acquiring an additional 648,378 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citizens Jmp upped their price objective on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Truist Financial started coverage on shares of Rapport Therapeutics in a report on Tuesday, September 16th. They set a “buy” rating and a $44.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Wednesday, October 8th. HC Wainwright raised their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Finally, The Goldman Sachs Group raised Rapport Therapeutics to a “strong-buy” rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.80.

About Rapport Therapeutics

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.