Rapport Therapeutics (NASDAQ:RAPP) Trading 4.7% Higher

Rapport Therapeutics (NASDAQ:RAPP) shot up 4.7% during trading on Tuesday . The stock traded as high as $19.76 and last traded at $19.67. 7,380 shares changed hands during trading, a decline of 95% from the average session volume of 154,137 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

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

Rapport Therapeutics Price Performance

The firm’s fifty day moving average is $21.39.

Rapport Therapeutics (NASDAQ:RAPP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($1.02). Research analysts anticipate that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, Director James Healy bought 44,032 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were acquired at an average price of $24.52 per share, with a total value of $1,079,664.64. Following the completion of the acquisition, the director now owns 40,851 shares in the company, valued at approximately $1,001,666.52. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RAPP. Logos Global Management LP acquired a new position in Rapport Therapeutics during the 2nd quarter worth approximately $4,859,000. Perceptive Advisors LLC acquired a new position in Rapport Therapeutics during the second quarter worth $17,403,000. The Manufacturers Life Insurance Company acquired a new stake in Rapport Therapeutics in the second quarter valued at $1,757,000. Millennium Management LLC purchased a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $2,716,000. Finally, Squarepoint Ops LLC acquired a new position in shares of 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.