Insider Selling: Rapport Therapeutics (NASDAQ:RAPP) CEO Sells 5,833 Shares of Stock

Rapport Therapeutics, Inc. (NASDAQ:RAPP) CEO Abraham Ceesay sold 5,833 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $29.34, for a total transaction of $171,140.22. Following the transaction, the chief executive officer owned 556,247 shares of the company’s stock, valued at approximately $16,320,286.98. The trade was a 1.04% decrease in their position. The sale 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 Wednesday, February 18th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $29.36, for a total value of $149,236.88.
• On Tuesday, January 20th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.11, for a total value of $132,717.13.
• On Tuesday, January 20th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The stock was sold at an average price of $26.12, for a total transaction of $152,357.96.
• On Wednesday, December 17th, Abraham Ceesay sold 5,083 shares of Rapport Therapeutics stock. The shares were sold at an average price of $29.63, for a total transaction of $150,609.29.
• On Wednesday, December 17th, Abraham Ceesay sold 5,833 shares of Rapport Therapeutics stock. The stock was sold at an average price of $29.64, for a total transaction of $172,890.12.

Rapport Therapeutics Stock Performance

RAPP traded up $0.79 on Thursday, hitting $29.99. 343,123 shares of the company were exchanged, compared to its average volume of 338,758. Rapport Therapeutics, Inc. has a fifty-two week low of $6.43 and a fifty-two week high of $42.27. The firm has a market capitalization of $1.43 billion, a P/E ratio of -11.07 and a beta of 1.63. The business’s fifty day moving average is $28.32 and its 200 day moving average is $25.33.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Rapport Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Citizens Jmp increased their price target on shares of Rapport Therapeutics from $77.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group restated a “buy” rating on shares of Rapport Therapeutics in a report on Friday, December 19th. Wells Fargo & Company initiated coverage on Rapport Therapeutics in a research report on Monday, February 2nd. They issued an “overweight” rating and a $43.00 target price on the stock. Finally, Citigroup reissued a “market outperform” rating on shares of Rapport Therapeutics in a research report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.80.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. Meeder Asset Management Inc. acquired a new stake in Rapport Therapeutics in the fourth quarter valued at approximately $37,000. Russell Investments Group Ltd. acquired a new stake in Rapport Therapeutics during the 3rd quarter valued at $43,000. Strs Ohio increased its stake in Rapport Therapeutics by 23.5% during the 3rd quarter. Strs Ohio now owns 2,100 shares of the company’s stock worth $62,000 after buying an additional 400 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rapport Therapeutics by 64.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,316 shares of the company’s stock worth $70,000 after buying an additional 905 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rapport Therapeutics by 86.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,887 shares of the company’s stock valued at $99,000 after buying an additional 4,582 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.