Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 2,210 Shares

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $29.16, for a total transaction of $64,443.60. Following the sale, the chief executive officer owned 450,035 shares in the company, valued at approximately $13,123,020.60. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $35,167.02.
• On Tuesday, October 6th, Abraham Ceesay sold 3,375 shares of Rapport Therapeutics stock. The stock was sold at an average price of $32.03, for a total transaction of $108,101.25.
• On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was 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 shares were 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 stock was 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 shares were 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 shares were 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 shares were sold at an average price of $42.11, for a total value of $93,063.10.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock traded down $0.60 on Friday, reaching $25.93. 1,180,713 shares of the company were exchanged, compared to its average volume of 410,900. Rapport Therapeutics, Inc. has a 1-year low of $23.75 and a 1-year high of $52.93. The company has a market cap of $1.24 billion, a P/E ratio of -8.53 and a beta of 1.22. The stock’s 50 day moving average price is $39.44 and its 200-day moving average price is $39.02.

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 predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.

Institutional Trading of Rapport Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAPP. Sterling Capital Management LLC boosted its holdings in shares of Rapport Therapeutics by 597.9% in the 3rd quarter. Sterling Capital Management LLC now owns 984 shares of the company’s stock valued at $33,000 after buying an additional 843 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $888,000. Wellington Management Group LLP grew its position in shares of Rapport Therapeutics by 11.2% in the 2nd quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock valued at $3,625,000 after buying an additional 8,757 shares during the last quarter. Artia Global Partners LP acquired a new stake in Rapport Therapeutics during the 2nd quarter worth $5,772,000. Finally, Bank of America Corp DE acquired a new stake in Rapport Therapeutics during the 2nd quarter worth $3,170,000.

Key Rapport Therapeutics News

Here are the key news stories impacting Rapport Therapeutics this week:

• Positive Sentiment: RAP-219 achieved both Phase 2 endpoints in bipolar mania. The drug produced statistically significant placebo-adjusted improvements in mania measures, and Rapport plans to advance it into Phase 3. The results could substantially expand RAP-219’s market opportunity beyond epilepsy. Rapport Therapeutics Phase 2 results
• Positive Sentiment: Analysts remain bullish and several raised price targets. JonesTrading increased its target to $82, BTIG Research to $89 and Raymond James to $86, while HC Wainwright maintained a Buy rating. The average analyst target is approximately $68.36, implying substantial upside from recent levels. BTIG Research price target increase
• Positive Sentiment: Company insiders made roughly $1.57 million of open-market purchases. CFO Troy Ignelzi bought 5,500 shares, while directors Steven Paul, John Maraganore, Wendy Young and Paul Silva also purchased shares. The concentrated buying may signal management confidence after the clinical update. Rapport Therapeutics insider buying
• Neutral Sentiment: A valuation analysis argues that RAPP could be approximately 62% below fair value following the Phase 2 data, supporting the bullish case but relying on assumptions about Phase 3 success, approval and future commercialization. Rapport Therapeutics fair value analysis
• Negative Sentiment: Investors still face substantial execution risk. Commentary suggested some portions of the bipolar-mania data narrowly met expectations, potentially limiting enthusiasm after the initial rally. Rapport is also unprofitable, recently missed quarterly EPS estimates and is forecast to post a full-year loss of about $4.09 per share. The shares remain far below their 52-week high and below their 50-day and 200-day moving averages. Rapport Therapeutics bipolar data analysis

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RAPP. Wall Street Zen lowered shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Guggenheim boosted their target price on shares of Rapport Therapeutics from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday. BTIG Research increased their target price on Rapport Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday. William Blair initiated coverage on Rapport Therapeutics in a report on Tuesday, July 28th. They issued an “outperform” rating on the stock. Finally, TD Cowen restated a “buy” rating on shares of Rapport Therapeutics in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $68.36.

Rapport Therapeutics Company Profile

Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for central nervous system disorders. The company’s approach is designed to selectively target receptor-associated proteins that regulate synaptic receptors, with the goal of improving therapeutic selectivity and reducing the side effects associated with broader-acting neurological medicines.

Rapport’s lead product candidate, RAP-219, is an orally administered small molecule being developed for neurological conditions, including focal epilepsy.