Rapport Therapeutics (NASDAQ:RAPP) Trading Up 7% – Here’s What Happened

Rapport Therapeutics (NASDAQ:RAPP) was up 7% during trading on Friday . The company traded as high as $19.80 and last traded at $19.62. Approximately 26,674 shares were traded during trading, a decline of 85% from the average daily volume of 183,322 shares. The stock had previously closed at $18.34.

Wall Street Analyst Weigh In

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

Rapport Therapeutics Price Performance

The stock has a 50-day simple moving average of $20.52.

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

Institutional Trading of Rapport Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Rapport Therapeutics in the third quarter worth $101,000. Logos Global Management LP purchased a new stake in Rapport Therapeutics in the second quarter worth $4,859,000. Perceptive Advisors LLC purchased a new position in shares of Rapport Therapeutics during the second quarter valued at $17,403,000. The Manufacturers Life Insurance Company purchased a new position in shares of Rapport Therapeutics during the second quarter valued at $1,757,000. Finally, Millennium Management LLC purchased a new position in shares of Rapport Therapeutics during the second quarter valued at $2,716,000.

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.