Key Points
- CEO Abraham Ceesay sold 22,541 Rapport Therapeutics shares at an average price of $46.26, generating approximately $1.04 million. He retained 515,066 shares, while also reporting two other recent sales.
- Rapport shares opened at $47.73, near their 52-week high of $49.50, but the company reported a quarterly loss of $1.19 per share, missing analyst expectations of a $1.12 loss.
- Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $61.57; recent targets include $65 from BTIG and $66 from HC Wainwright.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 22,541 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $46.26, for a total transaction of $1,042,746.66. Following the completion of the transaction, the chief executive officer directly owned 515,066 shares in the company, valued at $23,826,953.16. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Abraham Ceesay also recently made the following trade(s):
- On Tuesday, August 11th, Abraham Ceesay sold 28,958 shares of Rapport Therapeutics stock. The stock was sold at an average price of $48.01, for a total transaction of $1,390,273.58.
- On Monday, July 27th, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $42.11, for a total transaction of $93,063.10.
Rapport Therapeutics Stock Performance
Shares of RAPP stock opened at $47.73 on Thursday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -15.70 and a beta of 0.97. Rapport Therapeutics, Inc. has a 52 week low of $13.86 and a 52 week high of $49.50. The firm's 50-day simple moving average is $40.46 and its two-hundred day simple moving average is $35.05.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.07). Analysts forecast that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current year.
Institutional Trading of Rapport Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Rapport Therapeutics in the 1st quarter worth about $30,000. Meeder Asset Management Inc. bought a new stake in shares of Rapport Therapeutics during the fourth quarter valued at about $37,000. Russell Investments Group Ltd. bought a new stake in shares of Rapport Therapeutics during the third quarter valued at about $43,000. State of Wyoming bought a new stake in shares of Rapport Therapeutics during the second quarter valued at about $65,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rapport Therapeutics by 64.1% in the fourth 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.
Analyst Ratings Changes
Several equities research analysts have commented on RAPP shares. BTIG Research reaffirmed a "buy" rating and set a $65.00 price objective on shares of Rapport Therapeutics in a report on Wednesday, August 5th. William Blair assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 28th. They issued an "outperform" rating for the company. Truist Financial started coverage on shares of Rapport Therapeutics in a research report on Monday, May 18th. They issued a "buy" rating and a $56.00 price target on the stock. Leerink Partners initiated coverage on shares of Rapport Therapeutics in a research note on Wednesday, June 24th. They set an "outperform" rating and a $52.00 price target on the stock. Finally, HC Wainwright raised their price objective on shares of Rapport Therapeutics from $40.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday. One 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.57.
Read Our Latest Stock Report on Rapport Therapeutics
Rapport Therapeutics Company Profile
(
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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