Johnson & Johnson acquired a new stake in Rapport Therapeutics (NASDAQ:RAPP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,498,051 shares of the company's stock, valued at approximately $58,105,000. Rapport Therapeutics makes up approximately 14.5% of Johnson & Johnson's holdings, making the stock its 2nd largest position. Johnson & Johnson owned about 7.06% of Rapport Therapeutics as of its most recent SEC filing.
Separately, TD Asset Management Inc bought a new position in Rapport Therapeutics in the second quarter valued at approximately $2,361,000.
Analysts Set New Price Targets
RAPP has been the subject of several research reports. Stifel Nicolaus 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. Jefferies Financial Group assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a "buy" rating and a $35.00 price target on the stock. Finally, TD Cowen initiated coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They issued a "buy" rating on the stock.
Check Out Our Latest Stock Analysis on RAPP
Insider Activity
In related news, Director James Healy bought 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, for a total transaction 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 approximately $1,001,666.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Rapport Therapeutics Stock Down 1.1 %
Shares of RAPP traded down $0.21 during mid-day trading on Monday, hitting $18.79. 130,548 shares of the company's stock were exchanged, compared to its average volume of 156,354. Rapport Therapeutics has a 52 week low of $16.55 and a 52 week high of $28.08. The stock has a 50-day moving average of $21.50.
Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($1.02). On average, sell-side analysts anticipate that Rapport Therapeutics will post -3.46 earnings per share for the current fiscal year.
About Rapport Therapeutics
(
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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