Rapport Therapeutics (NASDAQ:RAPP) Trading Down 6.5% – Should You Sell?

Rapport Therapeutics (NASDAQ:RAPP) was down 6.5% during mid-day trading on Friday . The stock traded as low as $20.56 and last traded at $20.56. Approximately 5,964 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 157,690 shares. The stock had previously closed at $21.98.

Rapport Therapeutics Stock Down 4.7 %

The company has a fifty day moving average price of $22.57.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Rapport Therapeutics by 10.1% during the third quarter. FMR LLC now owns 5,486,468 shares of the company’s stock worth $112,363,000 after acquiring an additional 503,117 shares during the period. ARCH Venture Management LLC purchased a new stake in Rapport Therapeutics in the 2nd quarter valued at approximately $86,730,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the 2nd quarter worth approximately $58,105,000. Sofinnova Investments Inc. purchased a new position in shares of Rapport Therapeutics during the 2nd quarter worth approximately $45,393,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $17,403,000.

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.