Abraham Ceesay Sells 18,921 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 18,921 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $49.57, for a total transaction of $937,913.97. Following the sale, the chief executive officer owned 467,187 shares in the company, valued at approximately $23,158,459.59. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, August 11th, Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock. The shares were 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 stock was sold at an average price of $42.11, for a total transaction of $93,063.10.

Rapport Therapeutics Price Performance

Shares of NASDAQ RAPP opened at $50.83 on Friday. The stock has a market cap of $2.44 billion, a PE ratio of -16.72 and a beta of 0.97. Rapport Therapeutics, Inc. has a 1 year low of $14.11 and a 1 year high of $52.93. The firm has a fifty day moving average price of $43.17 and a 200-day moving average price of $36.79.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.07). On average, research analysts expect that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on RAPP. William Blair initiated coverage on Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating for the company. Citigroup restated a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. UBS Group reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a report on Monday, August 17th. 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 price objective on the stock. Finally, HC Wainwright boosted their target price on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $62.86.

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently made changes to their positions in RAPP. KBC Group NV bought a new position in Rapport Therapeutics during the first quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new stake in Rapport Therapeutics in the 4th quarter worth approximately $37,000. Russell Investments Group Ltd. purchased a new stake in shares of Rapport Therapeutics during the 3rd quarter worth approximately $43,000. State of Wyoming purchased a new stake in shares of Rapport Therapeutics during the 2nd quarter worth approximately $65,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rapport Therapeutics by 64.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock valued at $70,000 after acquiring an additional 905 shares during the last quarter.

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.