Rapport Therapeutics (NASDAQ:RAPP) Trading Down 2.4%

Rapport Therapeutics (NASDAQ:RAPP) shares fell 2.4% during trading on Thursday . The stock traded as low as $20.00 and last traded at $20.33. 21,560 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 155,018 shares. The stock had previously closed at $20.84.

Analyst Upgrades and Downgrades

RAPP has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price objective on the stock. Jefferies Financial Group started coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price objective for the company. Finally, TD Cowen assumed coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock.

Rapport Therapeutics Trading Down 2.9 %

The stock has a fifty day simple moving average of $21.19.

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

Insider Buying and Selling at Rapport Therapeutics

In related news, Director James Healy acquired 44,032 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were purchased at an average cost of $24.52 per share, with a total value of $1,079,664.64. Following the completion of the acquisition, the director now directly owns 40,851 shares of the company’s stock, valued at $1,001,666.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP purchased a new position in Rapport Therapeutics during the second quarter worth about $116,000. Davidson Kempner Capital Management LP acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at $229,000. Squarepoint Ops LLC purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $380,000. The Manufacturers Life Insurance Company purchased a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $1,757,000. Finally, TD Asset Management Inc acquired a new stake in Rapport Therapeutics in the second quarter valued at approximately $2,361,000.

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.