Squarepoint Ops LLC Buys New Position in Rapport Therapeutics (NASDAQ:RAPP)

Squarepoint Ops LLC purchased a new position in shares of Rapport Therapeutics (NASDAQ:RAPP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,345 shares of the company’s stock, valued at approximately $380,000.

A number of other institutional investors have also modified their holdings of RAPP. Sandia Investment Management LP acquired a new stake in Rapport Therapeutics during the second quarter worth approximately $116,000. ARCH Venture Management LLC acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter worth $86,730,000. Davidson Kempner Capital Management LP purchased a new position in shares of Rapport Therapeutics in the 2nd quarter worth $229,000. Sofinnova Investments Inc. acquired a new stake in Rapport Therapeutics during the second quarter worth about $45,393,000. Finally, Johnson & Johnson purchased a new position in Rapport Therapeutics in the second quarter valued at approximately $58,105,000.

Rapport Therapeutics Stock Up 4.7 %

Rapport Therapeutics stock opened at $20.41 on Friday. Rapport Therapeutics has a 12-month low of $16.55 and a 12-month high of $28.08. The company has a 50 day moving average of $20.35.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data 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, sell-side analysts anticipate that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RAPP has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price target for the company. TD Cowen assumed coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 2nd. They set a “buy” rating for the company. Finally, Stifel Nicolaus began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 target price for the company.

Rapport Therapeutics 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.