Key Points
- CEO Abraham Ceesay sold 2,210 Rapport Therapeutics shares at an average price of $39.17, generating $86,565.70. He retained 456,767 shares worth approximately $17.9 million.
- The sale follows several earlier insider transactions, including the sale of more than 80,000 shares since late July at prices ranging from $42.11 to $49.57.
- Analyst sentiment remains broadly positive, with an average “Buy” rating and a consensus price target of $66.25, despite the company missing its latest quarterly earnings estimate and reporting a loss of $1.19 per share.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 2,210 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $39.17, for a total value of $86,565.70. Following the sale, the chief executive officer owned 456,767 shares in the company, valued at approximately $17,891,563.39. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Abraham Ceesay also recently made the following trade(s):
- On Tuesday, September 8th, Abraham Ceesay sold 8,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $45.61, for a total value of $374,458.10.
- On Tuesday, August 25th, Abraham Ceesay sold 18,921 shares of Rapport Therapeutics stock. The stock was sold at an average price of $49.57, for a total value of $937,913.97.
- 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 value of $1,390,273.58.
- On Monday, August 10th, Abraham Ceesay sold 22,541 shares of Rapport Therapeutics stock. The shares were sold at an average price of $46.26, for a total value of $1,042,746.66.
- On Monday, July 27th, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The shares were sold at an average price of $42.11, for a total value of $93,063.10.
Rapport Therapeutics Stock Performance
NASDAQ RAPP opened at $33.83 on Friday. Rapport Therapeutics, Inc. has a one year low of $23.75 and a one year high of $52.93. The stock has a 50-day moving average of $44.60 and a 200 day moving average of $38.85. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.13 and a beta of 1.02.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued 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). On average, equities analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. TRV GP V LLC bought a new position in Rapport Therapeutics in the second quarter worth approximately $261,709,477. ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at $155,376,512. Goldman Sachs Group Inc. increased its stake in shares of Rapport Therapeutics by 23.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,001,879 shares of the company's stock worth $91,077,000 after purchasing an additional 579,903 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $112,500,000. Finally, Johnson & Johnson purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $74,360,823.
Analyst Ratings Changes
RAPP has been the topic of several research reports. BTIG Research raised their target price on shares of Rapport Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, September 16th. Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Rapport Therapeutics in a research note on Friday, July 17th. Leerink Partners initiated coverage on Rapport Therapeutics in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $52.00 price target on the stock. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Rapport Therapeutics in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $66.25.
Read Our Latest Research Report on Rapport Therapeutics
Rapport Therapeutics Company Profile
(
Get Free Report)
Rapport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for disorders of the central nervous system. The company's research centers on receptor-associated proteins, which help regulate neurotransmitter receptors and may provide opportunities to develop more selective therapies than those that target receptors broadly.
Rapport's lead development program, RAP-219, is an orally administered investigational therapy designed to modulate AMPA receptors through their associated proteins.
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