ARCH Venture Management LLC bought a new stake in shares of Rapport Therapeutics (NASDAQ:RAPP – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,728,738 shares of the company’s stock, valued at approximately $86,730,000. Rapport Therapeutics comprises approximately 31.6% of ARCH Venture Management LLC’s portfolio, making the stock its 2nd largest holding. ARCH Venture Management LLC owned approximately 10.19% of Rapport Therapeutics at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. TD Asset Management Inc bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $2,361,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the second quarter valued at approximately $58,105,000. Sofinnova Investments Inc. bought a new stake in Rapport Therapeutics in the second quarter valued at approximately $45,393,000. Finally, Davidson Kempner Capital Management LP acquired a new stake in Rapport Therapeutics in the second quarter worth $229,000.
Rapport Therapeutics Stock Down 5.1 %
Rapport Therapeutics stock opened at $20.14 on Tuesday. The firm has a 50 day moving average of $20.90. Rapport Therapeutics has a twelve month low of $16.55 and a twelve month high of $28.08.
Insider Transactions at Rapport Therapeutics
In other news, Director James Healy bought 44,032 shares of the business’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $24.52 per share, for a total transaction of $1,079,664.64. Following the purchase, the director now owns 40,851 shares of the company’s stock, valued at approximately $1,001,666.52. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Analysts Set New Price Targets
Several brokerages have recently issued reports on RAPP. Jefferies Financial Group initiated coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price target for the company. Stifel Nicolaus began coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price for the company. Finally, TD Cowen started coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock.
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.
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