Rapport Therapeutics (NASDAQ:RAPP) Shares Down 6.5% – Should You Sell?

Rapport Therapeutics (NASDAQ:RAPP) dropped 6.5% during mid-day trading on Friday . The stock traded as low as $20.56 and last traded at $20.56. Approximately 5,964 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 157,690 shares. The stock had previously closed at $21.98.

Rapport Therapeutics Stock Performance

The firm’s 50 day moving average is $22.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of Rapport Therapeutics in the third quarter worth $31,000. BNP Paribas Financial Markets bought a new stake in shares of Rapport Therapeutics during the 3rd quarter valued at about $34,000. The Manufacturers Life Insurance Company increased its position in shares of Rapport Therapeutics by 2.4% in the third quarter. The Manufacturers Life Insurance Company now owns 77,344 shares of the company’s stock worth $1,584,000 after purchasing an additional 1,828 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Rapport Therapeutics in the third quarter valued at approximately $101,000. Finally, Sandia Investment Management LP bought a new stake in Rapport Therapeutics during the second quarter valued at approximately $116,000.

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.