Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $93,063.10 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $42.11, for a total transaction of $93,063.10. Following the sale, the chief executive officer directly owned 537,607 shares of the company’s stock, valued at $22,638,630.77. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rapport Therapeutics Trading Down 4.2%

Shares of RAPP opened at $40.98 on Friday. The firm has a market capitalization of $1.96 billion, a P/E ratio of -15.76 and a beta of 0.94. The stock’s fifty day simple moving average is $39.35 and its 200 day simple moving average is $33.98. Rapport Therapeutics, Inc. has a twelve month low of $13.62 and a twelve month high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. The firm had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Sell-side analysts predict that Rapport Therapeutics, Inc. will post -3.26 earnings per share for the current year.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new stake in shares of Rapport Therapeutics during the 4th quarter valued at about $3,434,000. Goldman Sachs Group Inc. lifted its position in Rapport Therapeutics by 23.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after acquiring an additional 579,903 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Rapport Therapeutics by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company’s stock worth $55,151,000 after acquiring an additional 191,219 shares during the period. Artia Global Partners LP boosted its holdings in Rapport Therapeutics by 114.4% in the 4th quarter. Artia Global Partners LP now owns 138,508 shares of the company’s stock worth $4,202,000 after acquiring an additional 73,900 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Rapport Therapeutics in the 1st quarter worth approximately $1,121,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Truist Financial assumed coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a “buy” rating and a $56.00 price target on the stock. Wall Street Zen raised shares of Rapport Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Raymond James Financial initiated coverage on shares of Rapport Therapeutics in a research note on Friday, April 10th. They set a “strong-buy” rating and a $66.00 price objective for the company. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rapport Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $57.86.

Rapport Therapeutics Company Profile

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.