Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 28,958 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 28,958 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $48.01, for a total value of $1,390,273.58. Following the completion of the transaction, the chief executive officer directly owned 486,108 shares in the company, valued at approximately $23,338,045.08. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value 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 value of $93,063.10.

Rapport Therapeutics Stock Down 2.2%

NASDAQ:RAPP traded down $1.09 during midday trading on Wednesday, reaching $47.73. The stock had a trading volume of 316,893 shares, compared to its average volume of 349,796. The stock has a market cap of $2.29 billion, a P/E ratio of -15.70 and a beta of 0.97. The firm has a fifty day simple moving average of $40.25 and a two-hundred day simple moving average of $34.91. Rapport Therapeutics, Inc. has a 12-month low of $13.86 and a 12-month high of $49.50.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Leerink Partners started coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $52.00 price target for the company. Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research note on Tuesday, June 2nd. William Blair started coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They issued an “outperform” rating for the company. HC Wainwright lifted their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BTIG Research reaffirmed a “buy” rating and set a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.57.

Institutional Investors Weigh In On Rapport Therapeutics

Several institutional investors have recently modified their holdings of the company. TRV GP V LLC acquired a new position in Rapport Therapeutics during the second quarter worth $261,709,477,000. BlackRock Inc. acquired a new stake in Rapport Therapeutics in the second quarter valued at $112,500,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics in the second quarter valued at $74,360,823,000. TRV GP VI LLC acquired a new position in shares of Rapport Therapeutics during the 2nd quarter worth $40,387,314,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Rapport Therapeutics in the 3rd quarter worth about $28,215,000.

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.