Norges Bank Acquires Shares of 48,452 Rapport Therapeutics (NASDAQ:RAPP)

Norges Bank bought a new stake in Rapport Therapeutics (NASDAQ:RAPP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,452 shares of the company's stock, valued at approximately $860,000. Norges Bank owned about 0.13% of Rapport Therapeutics as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in Rapport Therapeutics during the third quarter worth $34,000. KLP Kapitalforvaltning AS bought a new position in shares of Rapport Therapeutics in the 4th quarter valued at approximately $34,000. JPMorgan Chase & Co. boosted its position in Rapport Therapeutics by 77.8% during the fourth quarter. JPMorgan Chase & Co. now owns 7,170 shares of the company's stock worth $127,000 after purchasing an additional 3,137 shares during the period. Barclays PLC raised its position in shares of Rapport Therapeutics by 36.8% in the third quarter. Barclays PLC now owns 12,863 shares of the company's stock valued at $264,000 after purchasing an additional 3,463 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Rapport Therapeutics in the fourth quarter worth $62,000.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citizens Jmp assumed coverage on shares of Rapport Therapeutics in a report on Tuesday, April 8th. They issued a "mkt outperform" rating on the stock. JMP Securities started coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They set a "market outperform" rating and a $28.00 price objective for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $32.67.

Insider Activity at Rapport Therapeutics

In other news, Director Wendy B. Young acquired 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $10.21 per share, for a total transaction of $61,260.00. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at approximately $61,260. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Troy A. Ignelzi bought 9,900 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $10.10 per share, with a total value of $99,990.00. Following the completion of the purchase, the chief financial officer now directly owns 9,900 shares of the company's stock, valued at $99,990. This represents a ∞ increase in their position. The disclosure for this purchase can be found here.

Rapport Therapeutics Stock Performance

Shares of NASDAQ:RAPP traded down $0.05 on Thursday, hitting $9.71. 18,731 shares of the company were exchanged, compared to its average volume of 178,279. The company's 50 day moving average price is $10.73 and its two-hundred day moving average price is $16.90. Rapport Therapeutics has a one year low of $6.43 and a one year high of $29.74. The firm has a market capitalization of $354.38 million and a price-to-earnings ratio of -0.70.

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.