Rapport Therapeutics (NASDAQ:RAPP) Trading Down 4.1%

Rapport Therapeutics (NASDAQ:RAPP) shares were down 4.1% on Wednesday . The stock traded as low as $19.47 and last traded at $19.47. Approximately 69,794 shares were traded during trading, a decline of 62% from the average daily volume of 183,487 shares. The stock had previously closed at $20.31.

Wall Street Analysts Forecast Growth

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

Rapport Therapeutics Stock Performance

The stock has a 50 day moving average price of $20.63.

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

Hedge Funds Weigh In On Rapport Therapeutics

Several large investors have recently modified their holdings of RAPP. Logos Global Management LP bought a new stake in Rapport Therapeutics during the 2nd quarter valued at about $4,859,000. Perceptive Advisors LLC bought a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $17,403,000. The Manufacturers Life Insurance Company purchased a new position in Rapport Therapeutics in the 2nd quarter worth approximately $1,757,000. Millennium Management LLC purchased a new stake in Rapport Therapeutics during the 2nd quarter valued at $2,716,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth $380,000.

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.