Rapport Therapeutics (NASDAQ:RAPP) Trading Up 7% – Here’s What Happened

Rapport Therapeutics (NASDAQ:RAPP)’s share price shot up 7% during trading on Friday . The stock traded as high as $19.80 and last traded at $19.62. 26,674 shares were traded during trading, a decline of 85% from the average session volume of 183,322 shares. The stock had previously closed at $18.34.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RAPP. Jefferies Financial Group initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price target on the stock. Stifel Nicolaus initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price on the stock. Finally, TD Cowen initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock.

Rapport Therapeutics Price Performance

The business’s 50 day moving average price is $20.52.

Rapport Therapeutics (NASDAQ:RAPP) last posted 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). On average, analysts expect that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Rapport Therapeutics in the third quarter worth about $101,000. Sandia Investment Management LP acquired a new stake in Rapport Therapeutics in the second quarter worth about $116,000. Davidson Kempner Capital Management LP acquired a new stake in Rapport Therapeutics in the second quarter worth about $229,000. Squarepoint Ops LLC acquired a new stake in Rapport Therapeutics in the second quarter worth about $380,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Rapport Therapeutics in the second quarter worth about $1,757,000.

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.