Rapport Therapeutics (NASDAQ:RAPP) Stock Price Up 10.2%

Rapport Therapeutics (NASDAQ:RAPP)’s share price traded up 10.2% during mid-day trading on Tuesday . The company traded as high as $20.40 and last traded at $20.14. 13,269 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 184,075 shares. The stock had previously closed at $18.27.

Analyst Ratings Changes

Several brokerages recently commented on RAPP. Stifel Nicolaus started 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 on the stock. TD Cowen started coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 price objective for the company.

Rapport Therapeutics Trading Up 11.4 %

Rapport Therapeutics (NASDAQ:RAPP) last issued its earnings results on Thursday, August 8th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.02). As a group, analysts forecast that Rapport Therapeutics will post -2.56 EPS for the current year.

Insider Activity at Rapport Therapeutics

In other news, Director James Healy purchased 44,032 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were purchased at an average cost of $24.52 per share, for a total transaction of $1,079,664.64. Following the purchase, the director now directly owns 40,851 shares in the company, valued at approximately $1,001,666.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sofinnova Investments Inc. purchased a new position in shares of Rapport Therapeutics during the 2nd quarter valued at about $45,393,000. Johnson & Johnson purchased a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $58,105,000. Finally, TD Asset Management Inc bought a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $2,361,000.

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.