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

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) 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 traded.

Analysts Set New Price Targets

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

Rapport Therapeutics Stock Up 0.1 %

The stock has a 50 day moving average of $21.97.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($1.02). On average, analysts expect that Rapport Therapeutics will post -3.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director James Healy acquired 44,032 shares of the firm's stock in a transaction dated Monday, July 1st. The stock was acquired 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 $1,001,666.52. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds have recently bought and sold shares of the company. ARCH Venture Management LLC purchased a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $86,730,000. Johnson & Johnson acquired a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $58,105,000. Sofinnova Investments Inc. bought a new position in Rapport Therapeutics during the 2nd quarter worth approximately $45,393,000. Perceptive Advisors LLC bought a new position in Rapport Therapeutics during the second quarter worth $17,403,000. Finally, Logos Global Management LP acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at about $4,859,000.

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.