Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 40,835 Shares

Key Points

• CEO Abraham Ceesay sold 40,835 shares of Rapport Therapeutics at an average price of $26.32, totaling approximately $1.07 million, reducing his ownership by 6.52%.
• Following the sale, CEO Ceesay retains 585,412 shares in the company, valued at about $15.4 million.
• Rapport Therapeutics received positive ratings from various analysts, with a consensus rating of "Buy" and an average target price of $35.33.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 40,835 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $26.32, for a total transaction of $1,074,777.20. Following the completion of the sale, the chief executive officer owned 585,412 shares in the company, valued at $15,408,043.84. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, September 17th, Abraham Ceesay sold 35,585 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.32, for a total transaction of $936,597.20.

Rapport Therapeutics Price Performance

RAPP traded down $0.99 on Friday, reaching $26.36. 1,486,793 shares of the company traded hands, compared to its average volume of 352,560. The stock's 50 day moving average price is $17.10 and its 200-day moving average price is $12.82. Rapport Therapeutics, Inc. has a 52-week low of $6.43 and a 52-week high of $42.27. The company has a market cap of $962.09 million, a price-to-earnings ratio of -10.54 and a beta of 0.73.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.12. As a group, equities research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG acquired a new position in shares of Rapport Therapeutics in the fourth quarter valued at approximately $41,000. Corebridge Financial Inc. increased its position in Rapport Therapeutics by 79.1% during the 1st quarter. Corebridge Financial Inc. now owns 8,271 shares of the company's stock valued at $83,000 after purchasing an additional 3,653 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rapport Therapeutics by 86.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company's stock worth $99,000 after buying an additional 4,582 shares in the last quarter. Catalyst Private Wealth LLC bought a new position in shares of Rapport Therapeutics during the 1st quarter worth approximately $100,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Rapport Therapeutics by 90.2% in the 1st quarter. MetLife Investment Management LLC now owns 10,863 shares of the company's stock worth $109,000 after purchasing an additional 5,153 shares in the last quarter.

Wall Street Analyst Weigh In

RAPP has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded shares of Rapport Therapeutics to a "strong-buy" rating in a research note on Friday, September 12th. JMP Securities reissued a "market outperform" rating and set a $28.00 price objective on shares of Rapport Therapeutics in a report on Tuesday, July 8th. HC Wainwright raised their target price on shares of Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Truist Financial started coverage on shares of Rapport Therapeutics in a research note on Tuesday. They set a "buy" rating and a $44.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $35.33.

About Rapport Therapeutics

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.

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