Rapport Therapeutics (NASDAQ:RAPP) Shares Down 2.7% – Should You Sell?

Rapport Therapeutics (NASDAQ:RAPP) shares were down 2.7% during trading on Friday . The stock traded as low as $27.28 and last traded at $27.28. Approximately 30,346 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 176,428 shares. The stock had previously closed at $28.05.

Analyst Ratings Changes

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

Rapport Therapeutics Price Performance

The company has a 50 day moving average of $21.06.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, August 8th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($1.02). As a group, research analysts predict that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. ARCH Venture Management LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at approximately $86,730,000. Johnson & Johnson acquired a new position in Rapport Therapeutics during the second quarter worth $58,105,000. Sofinnova Investments Inc. purchased a new stake in Rapport Therapeutics in the 2nd quarter valued at $45,393,000. Perceptive Advisors LLC acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $17,403,000. Finally, Logos Global Management LP purchased a new position in shares of Rapport Therapeutics during the 2nd quarter worth $4,859,000.

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.