Rapport Therapeutics (NASDAQ:RAPP) Stock: Insider Abraham Ceesay Sells 3,375 Shares

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

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 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 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 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 Stock Up 2.7%

NASDAQ:RAPP opened at $30.65 on Friday. The company’s 50 day moving average is $42.52 and its 200-day moving average is $39.06. Rapport Therapeutics, Inc. has a 12 month low of $23.75 and a 12 month high of $52.93. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -10.08 and a beta of 1.22.

Rapport Therapeutics (NASDAQ:RAPP) last posted 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). Research analysts predict that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Institutional Trading of Rapport Therapeutics

Hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in shares of Rapport Therapeutics in the second quarter valued at $888,000. Wellington Management Group LLP boosted its stake in Rapport Therapeutics by 11.2% during the second quarter. Wellington Management Group LLP now owns 86,988 shares of the company’s stock worth $3,625,000 after buying an additional 8,757 shares in the last quarter. Artia Global Partners LP bought a new stake in Rapport Therapeutics in the 2nd quarter valued at $5,772,000. Bank of America Corp DE acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $3,170,000. Finally, Jupiter Topco LLC acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $574,000.

Analyst Upgrades and Downgrades

RAPP has been the topic of several research analyst reports. Guggenheim initiated coverage on Rapport Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $65.00 price target on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Rapport Therapeutics in a report on Tuesday, September 22nd. UBS Group set a $80.00 price target on Rapport Therapeutics in a report on Wednesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rapport Therapeutics in a research report on Friday, July 17th. Finally, William Blair began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an “outperform” rating on the stock. Two 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 data from MarketBeat, Rapport Therapeutics currently has a consensus rating of “Buy” and an average price target 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.