Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 4.4%

Rapport Therapeutics (NASDAQ:RAPP) shares were down 4.4% during mid-day trading on Tuesday . The stock traded as low as $20.93 and last traded at $20.93. Approximately 3,632 shares were traded during trading, a decline of 98% from the average daily volume of 164,408 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

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

Rapport Therapeutics Stock Down 6.8 %

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.68) by ($1.02). On average, sell-side analysts expect that Rapport Therapeutics will post -3.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director James Healy bought 44,032 shares of the business’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $24.52 per share, for a total transaction of $1,079,664.64. Following the completion of the transaction, the director now directly owns 40,851 shares of the company’s stock, valued at approximately $1,001,666.52. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RAPP. Sandia Investment Management LP bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at $116,000. Davidson Kempner Capital Management LP acquired a new position in Rapport Therapeutics in the second quarter valued at $229,000. Squarepoint Ops LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $380,000. The Manufacturers Life Insurance Company acquired a new stake in Rapport Therapeutics during the 2nd quarter worth about $1,757,000. Finally, TD Asset Management Inc acquired a new stake in Rapport Therapeutics during the 2nd quarter worth about $2,361,000.

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.