5,000 Shares in Rapport Therapeutics (NASDAQ:RAPP) Acquired by Sandia Investment Management LP

Sandia Investment Management LP acquired a new position in Rapport Therapeutics (NASDAQ:RAPP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $116,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ARCH Venture Management LLC acquired a new position in Rapport Therapeutics in the second quarter worth approximately $86,730,000. Johnson & Johnson acquired a new position in Rapport Therapeutics in the second quarter worth approximately $58,105,000. Sofinnova Investments Inc. acquired a new position in Rapport Therapeutics in the second quarter worth approximately $45,393,000. TD Asset Management Inc acquired a new position in Rapport Therapeutics during the second quarter valued at approximately $2,361,000. Finally, Davidson Kempner Capital Management LP acquired a new position in Rapport Therapeutics during the second quarter valued at approximately $229,000.

Analysts Set New Price Targets

A number of research firms have recently commented on RAPP. TD Cowen began coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Jefferies Financial Group began coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price target on the stock.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $21.39 on Wednesday. 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 price of $20.90.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data 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). Analysts predict that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.

Insider Transactions at Rapport Therapeutics

In related news, Director James Healy acquired 44,032 shares of the stock in a transaction dated Monday, July 1st. The shares were acquired at an average price of $24.52 per share, for a total transaction of $1,079,664.64. Following the completion of the purchase, the director now owns 40,851 shares in the company, valued at approximately $1,001,666.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.