Shares of Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) dropped 4.4% during 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.
Wall Street Analyst Weigh In
RAPP has been the subject of several research analyst reports. TD Cowen assumed coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They set a "buy" rating and a $35.00 price target on the stock. Finally, Stifel Nicolaus started 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.
Check Out Our Latest Research Report on Rapport Therapeutics
Rapport Therapeutics Stock Performance
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last announced 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). On average, equities research analysts expect that Rapport Therapeutics will post -3.31 EPS for the current fiscal year.
Insider Transactions at Rapport Therapeutics
In other news, Director James Healy acquired 44,032 shares of the company's stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $24.52 per share, with a total value of $1,079,664.64. Following the acquisition, the director now directly owns 40,851 shares in the company, valued at $1,001,666.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Institutional Trading of Rapport Therapeutics
Several large investors have recently added to or reduced their stakes in the business. Sandia Investment Management LP acquired a new position in Rapport Therapeutics during the 2nd quarter worth $116,000. Davidson Kempner Capital Management LP acquired a new stake in Rapport Therapeutics in the second quarter worth about $229,000. Squarepoint Ops LLC bought a new position in Rapport Therapeutics in 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 shares of Rapport Therapeutics during the 2nd quarter worth about $2,361,000.
About Rapport Therapeutics
(
Get Free Report)
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.
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