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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 2,210 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $39.17, for a total transaction of $86,565.70. Following the sale, the chief executive officer directly owned 456,767 shares of the company’s stock, valued at $17,891,563.39. The trade was a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction 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 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 value of $93,063.10.

Rapport Therapeutics Price Performance

Shares of NASDAQ:RAPP opened at $33.83 on Friday. 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 $1.62 billion, a PE ratio of -11.13 and a beta of 1.02. The stock’s 50-day moving average is $44.60 and its 200 day moving average is $38.85.

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

Wall Street Analyst Weigh In

RAPP has been the subject of several research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Rapport Therapeutics in a research report on Wednesday. William Blair initiated coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 28th. They set an “outperform” rating on the stock. UBS Group set a $80.00 price target on shares of Rapport Therapeutics in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating on shares of Rapport Therapeutics in a report on Tuesday. Finally, Wall Street Zen cut Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rapport Therapeutics has an average rating of “Buy” and an average price target of $66.25.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at $9,327,000. Johnson & Johnson purchased a new stake in Rapport Therapeutics during the 2nd quarter valued at about $74,360,823. Walleye Capital LLC purchased a new stake in Rapport Therapeutics during the 2nd quarter valued at about $4,257,000. Legal & General Group Plc bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $940,000. Finally, Dimensional Fund Advisors LP raised its holdings in Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock worth $7,025,000 after buying an additional 141,011 shares during the last quarter.

About Rapport Therapeutics

Rapport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for disorders of the central nervous system. The company’s research centers on receptor-associated proteins, which help regulate neurotransmitter receptors and may provide opportunities to develop more selective therapies than those that target receptors broadly.

Rapport’s lead development program, RAP-219, is an orally administered investigational therapy designed to modulate AMPA receptors through their associated proteins.