Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 5.8%

Shares of Rapport Therapeutics (NASDAQ:RAPP) were up 5.8% during trading on Wednesday . The company traded as high as $22.53 and last traded at $21.42. Approximately 41,216 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 159,710 shares. The stock had previously closed at $20.24.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 target price on the stock. Jefferies Financial Group initiated coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price for the company. Finally, TD Cowen began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating on the stock.

Rapport Therapeutics Stock Performance

The company’s 50-day moving average price is $21.96.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.02). Research analysts expect that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Insider Activity

In other Rapport Therapeutics news, Director James Healy purchased 44,032 shares of the company’s stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $24.52 per share, for a total transaction of $1,079,664.64. Following the completion of the purchase, the director now directly owns 40,851 shares in the company, valued at approximately $1,001,666.52. The purchase was disclosed in a filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RAPP. Logos Global Management LP purchased a new stake in Rapport Therapeutics during the second quarter worth approximately $4,859,000. Perceptive Advisors LLC acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $17,403,000. The Manufacturers Life Insurance Company purchased a new position in shares of Rapport Therapeutics during the second quarter worth approximately $1,757,000. Millennium Management LLC acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $2,716,000. Finally, Squarepoint Ops LLC purchased a new position in Rapport Therapeutics during the 2nd quarter worth $380,000.

Rapport Therapeutics Company Profile

Rapport Therapeutics Inc is a clinical-stage biotechnology company. It focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders. Rapport Therapeutics Inc is based in BOSTON.