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

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 28,958 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58. Following the transaction, the chief executive officer owned 486,108 shares of the company’s stock, valued at $23,338,045.08. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 transaction 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 transaction of $93,063.10.

Rapport Therapeutics Stock Down 0.8%

Rapport Therapeutics stock opened at $47.36 on Friday. Rapport Therapeutics, Inc. has a 52-week low of $13.86 and a 52-week high of $49.50. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -15.58 and a beta of 0.97. The firm has a 50-day moving average price of $40.66 and a two-hundred day moving average price of $35.20.

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

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RAPP. Swedbank AB acquired a new stake in Rapport Therapeutics in the 4th quarter valued at about $3,434,000. Dimensional Fund Advisors LP boosted its position in shares of Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company’s stock valued at $7,025,000 after purchasing an additional 141,011 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company’s stock worth $91,077,000 after purchasing an additional 579,903 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Rapport Therapeutics in the 1st quarter worth approximately $1,121,000. Finally, Candriam S.C.A. bought a new stake in shares of Rapport Therapeutics in the 1st quarter worth approximately $5,818,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RAPP shares. William Blair initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 28th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Wall Street Zen cut shares of Rapport Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. BTIG Research reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday, August 5th. Finally, Leerink Partners started coverage on shares of Rapport Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $52.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.57.

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.