Abraham Ceesay Sells 22,541 Shares of Rapport Therapeutics (NASDAQ:RAPP) Stock

Key Points

• CEO Abraham Ceesay sold 22,541 Rapport Therapeutics shares at an average price of $46.26, generating approximately $1.04 million. His remaining direct stake fell 4.19% to 515,066 shares.
• RAPP shares declined 2.2% to $47.73, while the company reported a quarterly loss of $1.19 per share—$0.07 worse than analyst expectations.
• Analyst sentiment remains positive: the stock has a “Moderate Buy” consensus rating and an average price target of $61.57, with HC Wainwright raising its target to $66.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 22,541 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $46.26, for a total transaction of $1,042,746.66. Following the sale, the chief executive officer directly owned 515,066 shares of the company's stock, valued at approximately $23,826,953.16. This represents a 4.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $1,390,273.58.
• 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 transaction of $93,063.10.

Rapport Therapeutics Stock Down 2.2%

RAPP stock traded down $1.09 during midday trading on Wednesday, reaching $47.73. The company had a trading volume of 316,893 shares, compared to its average volume of 349,796. The stock has a 50 day moving average price of $40.25 and a 200 day moving average price of $34.91. Rapport Therapeutics, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $49.50. The firm has a market capitalization of $2.29 billion, a PE ratio of -15.70 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced its quarterly 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). Research analysts predict that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RAPP. Swedbank AB bought a new stake in shares of Rapport Therapeutics during the 4th quarter worth about $3,434,000. Goldman Sachs Group Inc. boosted its holdings in shares of Rapport Therapeutics by 23.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock valued at $91,077,000 after acquiring an additional 579,903 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rapport Therapeutics by 168.9% in the first quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock valued at $7,025,000 after acquiring an additional 141,011 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Rapport Therapeutics during the first quarter valued at approximately $1,121,000. Finally, Vanguard Group Inc. increased its stake in shares of Rapport Therapeutics by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 1,817,757 shares of the company's stock valued at $55,151,000 after acquiring an additional 191,219 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RAPP. HC Wainwright increased their target price on Rapport Therapeutics from $40.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday. William Blair assumed coverage on shares of Rapport Therapeutics in a report on Tuesday, July 28th. They set an "outperform" rating for the company. Leerink Partners began coverage on shares of Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price target for the company. Truist Financial began coverage on shares of Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 price objective on the stock. Finally, BTIG Research reiterated a "buy" rating and issued a $65.00 price objective on shares of Rapport Therapeutics in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus 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.

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