Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 10.5% – Here’s What Happened

Rapport Therapeutics (NASDAQ:RAPP) shares were down 10.5% during trading on Thursday . The company traded as low as $24.03 and last traded at $24.03. Approximately 36,385 shares were traded during trading, a decline of 78% from the average daily volume of 166,587 shares. The stock had previously closed at $26.84.

Rapport Therapeutics Stock Performance

The business’s 50 day moving average price is $21.79.

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

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of RAPP. Values First Advisors Inc. purchased a new stake in shares of Rapport Therapeutics during the 3rd quarter valued at $31,000. SG Americas Securities LLC bought a new stake in shares of Rapport Therapeutics during the third quarter valued at approximately $101,000. Sandia Investment Management LP acquired a new position in shares of Rapport Therapeutics during the second quarter worth approximately $116,000. Davidson Kempner Capital Management LP bought a new position in Rapport Therapeutics in the 2nd quarter worth approximately $229,000. Finally, Squarepoint Ops LLC acquired a new stake in Rapport Therapeutics in the 2nd quarter valued at approximately $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.