Millennium Management LLC Makes New $2.72 Million Investment in Rapport Therapeutics (NASDAQ:RAPP)

Millennium Management LLC acquired a new position in shares of Rapport Therapeutics (NASDAQ:RAPP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 116,782 shares of the company’s stock, valued at approximately $2,716,000. Millennium Management LLC owned 0.32% of Rapport Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. ARCH Venture Management LLC acquired a new position in Rapport Therapeutics during the second quarter worth $86,730,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at about $58,105,000. Sofinnova Investments Inc. acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at about $45,393,000. TD Asset Management Inc acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at about $2,361,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Rapport Therapeutics in the second quarter valued at about $380,000.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP opened at $25.88 on Wednesday. The company has a fifty day simple moving average of $20.52. Rapport Therapeutics has a 12 month low of $16.55 and a 12 month high of $28.08.

Rapport Therapeutics (NASDAQ:RAPP) last released 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.