Key Points
- CEO Abraham Ceesay sold 2,210 Rapport Therapeutics shares at an average price of $42.11, totaling $93,063.10. He retains 537,607 shares, and the sale reduced his direct ownership by 0.41%.
- RAPP shares opened at $40.94, near their 52-week high of $44.28, with a market capitalization of approximately $1.96 billion. The company reported a quarterly loss of $0.42 per share, better than the expected $0.56 loss, while revenue of $20 million exceeded the $7.5 million estimate.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $57.86 price target. Several institutional investors, including Bank of America and Dimensional Fund Advisors, recently increased their positions.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 2,210 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $42.11, for a total value of $93,063.10. Following the sale, the chief executive officer directly owned 537,607 shares of the company's stock, valued at approximately $22,638,630.77. The trade was a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Rapport Therapeutics Stock Performance
Shares of RAPP stock opened at $40.94 on Thursday. Rapport Therapeutics, Inc. has a 52 week low of $13.62 and a 52 week high of $44.28. The company's 50 day moving average price is $39.16 and its two-hundred day moving average price is $33.83. The company has a market capitalization of $1.96 billion, a P/E ratio of -15.75 and a beta of 0.94.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.14. The company had revenue of $20.00 million during the quarter, compared to analyst estimates of $7.50 million. Analysts forecast that Rapport Therapeutics, Inc. will post -3.33 earnings per share for the current year.
Institutional Trading of Rapport Therapeutics
A number of institutional investors have recently made changes to their positions in RAPP. Bank of America Corp DE boosted its holdings in Rapport Therapeutics by 220.7% during the first quarter. Bank of America Corp DE now owns 110,826 shares of the company's stock worth $3,468,000 after purchasing an additional 76,273 shares during the last quarter. California State Teachers Retirement System grew its position in Rapport Therapeutics by 25.2% in the first quarter. California State Teachers Retirement System now owns 33,426 shares of the company's stock valued at $1,046,000 after purchasing an additional 6,736 shares in the last quarter. Sei Investments Co. increased its stake in Rapport Therapeutics by 68.7% in the 1st quarter. Sei Investments Co. now owns 30,819 shares of the company's stock valued at $964,000 after buying an additional 12,551 shares during the last quarter. Walleye Capital LLC acquired a new stake in Rapport Therapeutics in the 1st quarter valued at $349,000. Finally, Dimensional Fund Advisors LP lifted its position in Rapport Therapeutics by 168.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 224,498 shares of the company's stock worth $7,025,000 after buying an additional 141,011 shares in the last quarter.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on RAPP. Wall Street Zen raised shares of Rapport Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Raymond James Financial initiated coverage on Rapport Therapeutics in a research note on Friday, April 10th. They issued a "strong-buy" rating and a $66.00 price target on the stock. Truist Financial assumed coverage on Rapport Therapeutics in a report on Monday, May 18th. They issued a "buy" rating and a $56.00 price target on the stock. 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rapport Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.86.
Read Our Latest Research Report on RAPP
About Rapport Therapeutics
(
Get Free Report)
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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