Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) CEO Sells 5,833 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $29.34, for a total value of $171,140.22. Following the sale, the chief executive officer owned 556,247 shares of the company’s stock, valued at approximately $16,320,286.98. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, February 18th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $29.36, for a total value of $149,236.88.
• On Tuesday, January 20th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.11, for a total transaction of $132,717.13.
• On Tuesday, January 20th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The shares were sold at an average price of $26.12, for a total transaction of $152,357.96.
• On Wednesday, December 17th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The stock was sold at an average price of $29.63, for a total transaction of $150,609.29.
• On Wednesday, December 17th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The shares were sold at an average price of $29.64, for a total transaction of $172,890.12.

Rapport Therapeutics Stock Performance

Shares of RAPP stock traded up $0.79 during trading hours on Thursday, hitting $29.99. 343,123 shares of the company were exchanged, compared to its average volume of 338,758. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.07 and a beta of 1.63. Rapport Therapeutics, Inc. has a one year low of $6.43 and a one year high of $42.27. The business’s 50-day simple moving average is $28.32 and its two-hundred day simple moving average is $25.33.

Analysts Set New Price Targets

RAPP has been the topic of several research analyst reports. Wall Street Zen cut Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Citizens Jmp raised their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. BTIG Research reaffirmed a “buy” rating and set a $47.00 price objective on shares of Rapport Therapeutics in a research report on Monday, December 8th. Citigroup reiterated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Thursday, January 8th. Finally, HC Wainwright lifted their target price on Rapport Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

Institutional Trading of Rapport Therapeutics

Several large investors have recently added to or reduced their stakes in RAPP. Affinity Asset Advisors LLC bought a new position in shares of Rapport Therapeutics in the second quarter valued at approximately $2,270,000. TD Asset Management Inc increased its position in shares of Rapport Therapeutics by 20.9% during the 2nd quarter. TD Asset Management Inc now owns 196,870 shares of the company’s stock valued at $2,238,000 after purchasing an additional 34,052 shares during the period. Intech Investment Management LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $130,000. Tudor Investment Corp ET AL bought a new position in Rapport Therapeutics during the third quarter valued at about $331,000. Finally, Maven Securities LTD bought a new position in Rapport Therapeutics during the third quarter valued at about $594,000.

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.