Rapport Therapeutics (NASDAQ:RAPP) CEO Sells $93,063.10 in Stock

Key Points

• CEO Abraham Ceesay sold 2,210 shares of Rapport Therapeutics at an average price of $42.11, generating $93,063.10. He retained 537,607 shares worth approximately $22.64 million.
• RAPP recently traded at $40.94, with shares near their 12-month high of $44.28. The company exceeded quarterly expectations, reporting a loss of $0.42 per share versus the $0.56 consensus estimate and $20 million in revenue.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $57.86, compared with the current share price.

Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 2,210 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the completion of the sale, the chief executive officer directly owned 537,607 shares of the company's stock, valued at approximately $22,638,630.77. This represents a 0.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Rapport Therapeutics Stock Performance

RAPP stock traded down $1.02 during trading on Wednesday, reaching $40.94. The company had a trading volume of 322,686 shares, compared to its average volume of 352,968. The firm has a 50-day simple moving average of $39.06 and a 200-day simple moving average of $33.74. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -15.75 and a beta of 0.94. Rapport Therapeutics, Inc. has a twelve month low of $13.62 and a twelve month high of $44.28.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million for the quarter, compared to analysts' expectations of $7.50 million. Sell-side analysts expect that Rapport Therapeutics, Inc. will post -3.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RAPP. Raymond James Financial began coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 target price for the company. Wall Street Zen upgraded Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a report on Tuesday, June 2nd. William Blair started coverage on Rapport Therapeutics in a research note on Tuesday. They issued an "outperform" rating for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $65.00 target price on shares of Rapport Therapeutics in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Rapport Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $57.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in Rapport Therapeutics during the 1st quarter worth about $30,000. Meeder Asset Management Inc. purchased a new stake in shares of Rapport Therapeutics in the fourth quarter worth about $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the third quarter worth about $43,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rapport Therapeutics by 64.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company's stock worth $70,000 after acquiring an additional 905 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Rapport Therapeutics during the third quarter valued at approximately $143,000.

Rapport Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.