Rapport Therapeutics (NASDAQ:RAPP) Shares Down 2.4%

Rapport Therapeutics (NASDAQ:RAPP)’s stock price fell 2.4% during trading on Thursday . The stock traded as low as $20.00 and last traded at $20.33. 21,560 shares were traded during mid-day trading, a decline of 86% from the average session volume of 155,018 shares. The stock had previously closed at $20.84.

Analyst Upgrades and Downgrades

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

Rapport Therapeutics Stock Performance

The business’s 50-day simple moving average is $20.99.

Rapport Therapeutics (NASDAQ:RAPP) last posted its 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). On average, research analysts forecast that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

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

Institutional Trading of Rapport Therapeutics

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

About Rapport Therapeutics

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.