Rapport Therapeutics (NASDAQ:RAPP) Shares Down 4.1%

Rapport Therapeutics (NASDAQ:RAPP)’s share price traded down 4.1% during trading on Wednesday . The company traded as low as $19.47 and last traded at $19.47. 69,794 shares were traded during mid-day trading, a decline of 62% from the average session volume of 183,487 shares. The stock had previously closed at $20.31.

Wall Street Analysts Forecast Growth

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

Rapport Therapeutics Stock Down 5.0 %

The business’s 50 day simple moving average is $20.63.

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

Institutional Investors Weigh In On Rapport Therapeutics

Large investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $17,403,000. ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $86,730,000. TD Asset Management Inc purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $2,361,000. Johnson & Johnson bought a new position in shares of Rapport Therapeutics during the 2nd quarter valued at $58,105,000. Finally, Logos Global Management LP purchased a new position in Rapport Therapeutics in the 2nd quarter worth $4,859,000.

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.