Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 18,921 Shares

Key Points

• CEO Abraham Ceesay sold 18,921 shares of Rapport Therapeutics at an average price of $49.57, generating approximately $937,914. He retains 467,187 shares, with the sale reducing his direct ownership by 3.89%.
• RAPP shares rose 2.6% to $52.50 and are trading near their 52-week high of $52.83. The stock has gained substantially above its 50-day and 200-day moving averages.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $62.86, despite the company reporting a quarterly loss that was wider than expected.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 18,921 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $49.57, for a total value of $937,913.97. Following the transaction, the chief executive officer directly owned 467,187 shares in the company, valued at $23,158,459.59. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 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 Trading Up 2.6%

NASDAQ RAPP traded up $1.33 during trading on Wednesday, hitting $52.50. The company had a trading volume of 275,270 shares, compared to its average volume of 343,564. The company's fifty day moving average is $42.59 and its 200-day moving average is $36.43. Rapport Therapeutics, Inc. has a one year low of $14.11 and a one year high of $52.83. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -17.27 and a beta of 0.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced 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). As a group, equities analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RAPP. Leerink Partners assumed coverage on Rapport Therapeutics in a report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 target price on the stock. BTIG Research restated a "buy" rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research note on Wednesday, August 19th. Truist Financial started coverage on Rapport Therapeutics in a research note on Monday, May 18th. They issued a "buy" rating and a $56.00 target price for the company. HC Wainwright lifted their price target on Rapport Therapeutics from $40.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $75.00 price target on shares of Rapport Therapeutics in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $62.86.

Hedge Funds Weigh In On Rapport Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. TRV GP V LLC bought a new position in Rapport Therapeutics in the 2nd quarter worth about $261,709,477,000. ARCH Venture Management LLC bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $155,376,512,000. BlackRock Inc. bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $112,500,000. Johnson & Johnson bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $74,360,823,000. Finally, California State Teachers Retirement System raised its holdings in Rapport Therapeutics by 3,951.4% in the second quarter. California State Teachers Retirement System now owns 1,354,233 shares of the company's stock worth $56,431,000 after buying an additional 1,320,807 shares during the last quarter.

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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