Transaction details
Cheryl Gault, Chief Operating Officer of Rapport Therapeutics, Inc. (NASDAQ:RAPP), executed a sale of 10,000 shares of common stock on March 30, 2026, as reported on a Form 4 filed with the Securities and Exchange Commission. The disposition comprised two separate trades totaling $281,857.
The first trade sold 7,161 shares at a weighted average price of $28.0401, with execution prices spanning $27.42 to $28.41. The second trade sold 2,839 shares at a weighted average price of $28.5530, with execution prices ranging from $28.42 to $28.72. Following these sales, Gault directly holds 159,914 shares of Rapport Therapeutics.
The transactions were carried out under a pre-arranged Rule 10b5-1 trading plan that was adopted on December 10, 2025.
Stock performance and valuation notes
RAPP shares have advanced 176% over the past year and are currently trading at $31.29. An InvestingPro analysis cited in the filing indicates the stock appears overvalued relative to its Fair Value, though analysts remain largely positive with price targets reported in the range from $40 to $80. The InvestingPro note also references the availability of eight additional exclusive tips and comprehensive financial metrics for investors.
Clinical program and company updates
Rapport Therapeutics released fiscal year 2025 results contemporaneously with the release of Phase IIa clinical data for RAP-219 in focal seizures. Management said the company plans to initiate two Phase 3 studies of RAP-219 in focal onset seizures in the second quarter of 2026, which the company describes as earlier than initially expected. This schedule follows an end-of-phase-2 meeting with the FDA in December 2025.
The company is progressing its Phase 3 focal onset seizure (FOS) program and is exploring additional development opportunities in primary generalized tonic-clonic seizures (PGTCS) and bipolar mania.
Analyst coverage
Several sell-side firms have reiterated their Buy ratings on Rapport Therapeutics. Truist Securities, Stifel, and Jones Trading each reaffirmed Buy ratings with price targets of $44, $56, and $50, respectively. BTIG also maintained a Buy rating and raised its price target from $47 to $53, citing progress in trial phases and opportunities for indication expansion. BTIG additionally noted that, despite impressive azetukalner results, there were no direct implications for Rapport Therapeutics from the X-TOLE2 readout.
Context and limitations
The insider sale was executed under a pre-established trading arrangement and took place while the stock has experienced a significant run-up. Investors and observers should note the company’s stated plans for Phase 3 initiation and the range of analyst price targets, as well as the InvestingPro valuation assessment indicating the shares appear overvalued relative to Fair Value.