Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $108,101.25 in Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 3,375 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $32.03, for a total value of $108,101.25. Following the completion of the transaction, the chief executive officer directly owned 453,392 shares in the company, valued at $14,522,145.76. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, October 7th, Abraham Ceesay sold 1,147 shares of Rapport Therapeutics stock. The shares were sold at an average price of $30.66, for a total value of $35,167.02.
• On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $39.17, for a total value of $86,565.70.
• On Tuesday, September 8th, Abraham Ceesay sold 8,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $45.61, for a total value of $374,458.10.
• On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The shares were sold at an average price of $49.57, for a total value of $937,913.97.
• 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, 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

NASDAQ RAPP traded down $1.01 during mid-day trading on Thursday, hitting $29.85. The company’s stock had a trading volume of 236,728 shares, compared to its average volume of 356,361. The firm has a market capitalization of $1.43 billion, a P/E ratio of -9.82 and a beta of 1.22. Rapport Therapeutics, Inc. has a 52-week low of $23.75 and a 52-week high of $52.93. The stock’s fifty day simple moving average is $42.99 and its two-hundred day simple moving average is $39.10.

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

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new position in Rapport Therapeutics in the first quarter worth about $30,000. State of Wyoming acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $65,000. Meeder Asset Management Inc. bought a new position in Rapport Therapeutics during the 2nd quarter worth approximately $116,000. AlphaCentric Advisors LLC grew its position in shares of Rapport Therapeutics by 6.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 6,438 shares of the company’s stock worth $201,000 after acquiring an additional 408 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Rapport Therapeutics in the 1st quarter worth approximately $215,000.

Analyst Upgrades and Downgrades

RAPP has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Wall Street Zen lowered Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Leerink Partners initiated coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 target price on the stock. Guggenheim initiated coverage on Rapport Therapeutics in a research report on Tuesday. They set a “buy” rating and a $65.00 price target on the stock. Finally, BTIG Research upped their price target on Rapport Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Rapport Therapeutics has a consensus rating of “Buy” and an average target price of $66.11.

About Rapport Therapeutics

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.

Rapport’s lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.