Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 22,541 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 22,541 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $46.26, for a total transaction of $1,042,746.66. Following the completion of the sale, the chief executive officer owned 515,066 shares in the company, valued at $23,826,953.16. This represents a 4.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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, 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 Performance

Shares of NASDAQ RAPP opened at $47.73 on Thursday. The firm has a 50 day moving average price of $40.46 and a two-hundred day moving average price of $35.05. The stock has a market cap of $2.29 billion, a P/E ratio of -15.70 and a beta of 0.97. Rapport Therapeutics, Inc. has a 52-week low of $13.86 and a 52-week high of $49.50.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). Analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

Large investors have recently bought and sold shares of the stock. Swedbank AB purchased a new position in Rapport Therapeutics during the 4th quarter worth $3,434,000. Goldman Sachs Group Inc. raised its holdings in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock valued at $91,077,000 after purchasing an additional 579,903 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after purchasing an additional 141,011 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Rapport Therapeutics during the first quarter valued at about $1,121,000. Finally, Candriam S.C.A. bought a new position in shares of Rapport Therapeutics during the first quarter valued at about $5,818,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on RAPP. Leerink Partners started coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. Truist Financial started coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, William Blair started coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.57.

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.