Key Points
- CEO Abraham Ceesay sold 1,147 shares of Rapport Therapeutics at an average price of $30.66, worth $35,167.02, reducing his ownership by 0.25% to 452,245 shares. The sale follows several earlier insider sales.
- Rapport shares opened at $29.85, below their 50-day and 200-day moving averages, while the company reported a quarterly loss of $1.19 per share, missing estimates by $0.07.
- Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $66.11; major institutions including BlackRock and Johnson & Johnson also recently established positions.
Rapport Therapeutics, Inc. (NASDAQ:RAPP - Get Free Report) CEO Abraham Ceesay sold 1,147 shares of the company's stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $30.66, for a total value of $35,167.02. Following the completion of the transaction, the chief executive officer directly owned 452,245 shares in the company, valued at $13,865,831.70. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Abraham Ceesay also recently made the following trade(s):
- On Tuesday, October 6th, Abraham Ceesay sold 3,375 shares of Rapport Therapeutics stock. The shares were sold at an average price of $32.03, for a total value of $108,101.25.
- On Wednesday, September 23rd, Abraham Ceesay sold 2,210 shares of Rapport Therapeutics stock. The stock was sold at an average price of $39.17, for a total value of $86,565.70.
- 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 shares were 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 stock was sold at an average price of $42.11, for a total value of $93,063.10.
Rapport Therapeutics Stock Performance
Shares of NASDAQ:RAPP opened at $29.85 on Friday. Rapport Therapeutics, Inc. has a fifty-two week low of $23.75 and a fifty-two week high of $52.93. The business has a 50-day simple moving average of $42.73 and a two-hundred day simple moving average of $39.12. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -9.82 and a beta of 1.22.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.07). As a group, research analysts predict that Rapport Therapeutics, Inc. will post -4.09 earnings per share for the current 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 stake in shares of Rapport Therapeutics during the 2nd quarter valued at $261,709,477. ARCH Venture Management LLC bought a new position in Rapport Therapeutics in the 2nd quarter worth $155,376,512. BlackRock Inc. bought a new position in Rapport Therapeutics in the 2nd quarter worth $112,500,000. Johnson & Johnson purchased a new position in Rapport Therapeutics during the second quarter valued at $74,360,823. Finally, TRV GP VI LLC purchased a new position in Rapport Therapeutics during the second quarter valued at $40,387,314.
Analyst Ratings Changes
Several brokerages recently issued reports on RAPP. Raymond James Financial restated a "strong-buy" rating on shares of Rapport Therapeutics in a report on Tuesday, September 22nd. Citigroup reissued a "market outperform" rating on shares of Rapport Therapeutics in a report on Wednesday, September 23rd. BTIG Research raised their price target on Rapport Therapeutics from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, September 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rapport Therapeutics in a report on Friday, July 17th. Finally, UBS Group set a $80.00 price objective on Rapport Therapeutics in a research report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Rapport Therapeutics has a consensus rating of "Buy" and an average target price of $66.11.
Read Our Latest Research Report on Rapport Therapeutics
About Rapport Therapeutics
(
Get Free Report)
Rapport Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its proprietary RAP platform to identify and target synaptic receptor-associated proteins, which can influence the activity, distribution and function of receptors involved in the central nervous system.
Rapport's lead clinical program is relutrigine, also known as RAP-219, an orally administered small-molecule therapy being developed for focal epilepsy.
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