The Manufacturers Life Insurance Company Acquires Shares of 75,516 Rapport Therapeutics (NASDAQ:RAPP)

The Manufacturers Life Insurance Company acquired a new stake in shares of Rapport Therapeutics (NASDAQ:RAPP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 75,516 shares of the company’s stock, valued at approximately $1,757,000. The Manufacturers Life Insurance Company owned about 0.21% of Rapport Therapeutics as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RAPP. Sandia Investment Management LP purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $116,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $229,000. Squarepoint Ops LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $380,000. TD Asset Management Inc purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $2,361,000. Finally, Millennium Management LLC purchased a new stake in shares of Rapport Therapeutics in the second quarter worth about $2,716,000.

Rapport Therapeutics Trading Up 4.7 %

RAPP stock opened at $20.41 on Friday. The stock has a 50 day moving average of $20.35. Rapport Therapeutics has a 1-year low of $16.55 and a 1-year high of $28.08.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RAPP. TD Cowen began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating on the stock. 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 objective on the stock. Finally, 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 objective on the stock.

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.