Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 4.2% – What’s Next?

Rapport Therapeutics (NASDAQ:RAPP) traded down 4.2% during trading on Friday . The company traded as low as $23.71 and last traded at $23.79. 9,394 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 171,124 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

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

Rapport Therapeutics Trading Down 2.5 %

The company’s fifty day moving average is $21.55.

Rapport Therapeutics (NASDAQ:RAPP) last released its quarterly earnings data 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). Equities research analysts forecast that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RAPP. ARCH Venture Management LLC acquired a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $86,730,000. Johnson & Johnson bought a new stake in Rapport Therapeutics in the second quarter worth approximately $58,105,000. Sofinnova Investments Inc. bought a new stake in Rapport Therapeutics in the second quarter worth approximately $45,393,000. Perceptive Advisors LLC bought a new stake in Rapport Therapeutics in the second quarter worth approximately $17,403,000. Finally, Logos Global Management LP bought a new stake in Rapport Therapeutics in the second quarter worth approximately $4,859,000.

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.