Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up to $21.20

Rapport Therapeutics (NASDAQ:RAPP) gapped up before the market opened on Thursday . The stock had previously closed at $21.20, but opened at $21.93. Rapport Therapeutics shares last traded at $21.11, with a volume of 5,628 shares trading hands.

Analyst Ratings Changes

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

Rapport Therapeutics Stock Performance

The company’s fifty day moving average price is $21.93.

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

Insider Transactions at Rapport Therapeutics

In other news, Director James Healy purchased 44,032 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were purchased at an average cost of $24.52 per share, with a total value of $1,079,664.64. Following the completion of the acquisition, the director now owns 40,851 shares of the company’s stock, valued at approximately $1,001,666.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Rapport Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Logos Global Management LP acquired a new stake in Rapport Therapeutics during the second quarter worth $4,859,000. Perceptive Advisors LLC purchased a new stake in Rapport Therapeutics in the 2nd quarter valued at about $17,403,000. The Manufacturers Life Insurance Company purchased a new position in Rapport Therapeutics during the second quarter worth about $1,757,000. Millennium Management LLC acquired a new stake in shares of Rapport Therapeutics during the second quarter valued at about $2,716,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $380,000.

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.