Rapport Therapeutics (NASDAQ:RAPP) CEO Sells 8,210 Shares of Stock

Key Points

• CEO Abraham Ceesay sold 8,210 shares of Rapport Therapeutics at an average $45.61, generating $374,458; he retained 458,977 shares worth approximately $20.9 million.
• RAPP shares fell $2.21 to $43.88, while the company reported a quarterly loss of $1.19 per share, missing analyst expectations of a $1.12 loss.
• Analysts remain broadly positive, with an average “Buy” rating and a $62.86 price target, although ratings range from “Strong Buy” to “Sell.”

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 8,210 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $45.61, for a total transaction of $374,458.10. Following the completion of the sale, the chief executive officer owned 458,977 shares of the company's stock, valued at approximately $20,933,940.97. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 shares were 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 stock was sold at an average price of $42.11, for a total value of $93,063.10.

Rapport Therapeutics Stock Performance

Shares of RAPP stock traded down $2.21 on Wednesday, hitting $43.88. 437,730 shares of the stock traded hands, compared to its average volume of 342,235. Rapport Therapeutics, Inc. has a twelve month low of $22.06 and a twelve month high of $52.93. The firm's 50-day moving average price is $44.46 and its two-hundred day moving average price is $37.88. The stock has a market capitalization of $2.11 billion, a PE ratio of -14.43 and a beta of 1.02.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results 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). On average, equities research analysts anticipate that Rapport Therapeutics, Inc. will post -4.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group restated a "strong-buy" rating on shares of Rapport Therapeutics in a research report on Monday, August 17th. Leerink Partners assumed coverage on Rapport Therapeutics in a research report on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price objective for the company. Wall Street Zen lowered shares of Rapport Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. BTIG Research reaffirmed a "buy" rating and issued a $65.00 target price on shares of Rapport Therapeutics in a research report on Wednesday, August 19th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $75.00 target price 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 assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Rapport Therapeutics currently has an average rating of "Buy" and an average price target of $62.86.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. TRV GP V LLC purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $261,709,477. ARCH Venture Management LLC purchased a new position in shares of Rapport Therapeutics in the second quarter valued at approximately $155,376,512. BlackRock Inc. acquired a new position in shares of Rapport Therapeutics in the second quarter valued at approximately $112,500,000. Johnson & Johnson purchased a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $74,360,823. Finally, California State Teachers Retirement System increased its stake in Rapport Therapeutics by 3,951.4% during the 2nd 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 period.

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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