Rapport Therapeutics (NASDAQ:RAPP) CEO Abraham Ceesay Sells 5,833 Shares

Key Points

• Rapport Therapeutics CEO Abraham Ceesay sold 5,833 shares at an average price of $25.81, totaling approximately $150,549.73, reducing his position by 1.00%.
• Despite Ceesay's recent stock sales, Rapport Therapeutics is receiving positive sentiment from Wall Street, with analysts issuing a consensus rating of "Moderate Buy" and a price target averaging $35.33.
• Rapport Therapeutics stock recently traded down by 3.5% to $24.87, with a current market cap of $907.71 million and a 52-week price range of $6.43 to $42.27.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 5,833 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $25.81, for a total value of $150,549.73. Following the transaction, the chief executive officer directly owned 579,579 shares in the company, valued at approximately $14,958,933.99. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, October 15th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The stock was sold at an average price of $25.81, for a total value of $131,192.23.
• 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 value of $936,597.20.
• On Wednesday, September 17th, Abraham Ceesay sold 40,835 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.32, for a total value of $1,074,777.20.

Rapport Therapeutics Stock Down 3.5%

NASDAQ RAPP traded down $0.91 during trading hours on Thursday, hitting $24.87. 278,519 shares of the company were exchanged, compared to its average volume of 369,607. The company has a 50 day moving average of $21.65 and a two-hundred day moving average of $15.08. Rapport Therapeutics, Inc. has a 52-week low of $6.43 and a 52-week high of $42.27. The firm has a market cap of $907.71 million, a price-to-earnings ratio of -9.95 and a beta of 1.68.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded Rapport Therapeutics to a "strong-buy" rating in a report on Friday, September 12th. HC Wainwright increased their price objective on Rapport Therapeutics from $31.00 to $34.00 and gave the company a "buy" rating in a report on Monday, September 8th. JMP Securities restated a "market outperform" rating and set a $28.00 price target on shares of Rapport Therapeutics in a research note on Tuesday, July 8th. Truist Financial assumed coverage on Rapport Therapeutics in a research note on Tuesday, September 16th. They set a "buy" rating and a $44.00 price target on the stock. Finally, Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.33.

Institutional Trading of Rapport Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RAPP. Rhumbline Advisers lifted its position in Rapport Therapeutics by 40.1% during the 1st quarter. Rhumbline Advisers now owns 14,358 shares of the company's stock worth $144,000 after acquiring an additional 4,109 shares during the period. Bank of New York Mellon Corp lifted its position in Rapport Therapeutics by 77.7% during the 1st quarter. Bank of New York Mellon Corp now owns 35,482 shares of the company's stock worth $356,000 after acquiring an additional 15,514 shares during the period. XTX Topco Ltd acquired a new stake in shares of Rapport Therapeutics in the 1st quarter valued at approximately $155,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rapport Therapeutics by 23.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 90,968 shares of the company's stock valued at $912,000 after buying an additional 17,459 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Rapport Therapeutics by 180.6% in the 1st quarter. Deutsche Bank AG now owns 6,502 shares of the company's stock valued at $65,000 after buying an additional 4,185 shares during the period.

Rapport Therapeutics Company Profile

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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