Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up to $20.40

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $20.40, but opened at $20.83. Rapport Therapeutics shares last traded at $20.76, with a volume of 10,016 shares traded.

Analyst Upgrades and Downgrades

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

Rapport Therapeutics Stock Performance

The business's 50-day moving average is $22.14.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($1.02). Equities research analysts forecast that Rapport Therapeutics will post -3.31 EPS for the current fiscal year.

Insider Buying and Selling at Rapport Therapeutics

In related news, Director James Healy acquired 44,032 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was acquired at an average cost of $24.52 per share, for a total transaction of $1,079,664.64. Following the transaction, the director now directly owns 40,851 shares in the company, valued at $1,001,666.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Rapport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RAPP. Sandia Investment Management LP bought a new stake in Rapport Therapeutics in the second quarter valued at approximately $116,000. Davidson Kempner Capital Management LP bought a new position in Rapport Therapeutics in the 2nd quarter valued at about $229,000. Squarepoint Ops LLC acquired a new position in Rapport Therapeutics during the 2nd quarter valued at about $380,000. The Manufacturers Life Insurance Company acquired a new position in Rapport Therapeutics during the 2nd quarter valued at about $1,757,000. Finally, TD Asset Management Inc bought a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $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.