Rapport Therapeutics (NASDAQ:RAPP) Sets New 52-Week Low - What's Next?

Shares of Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.98 and last traded at $13.97, with a volume of 141904 shares trading hands. The stock had previously closed at $14.81.

Rapport Therapeutics Stock Down 11.5 %

The firm has a 50 day moving average price of $20.46.

Institutional Trading of Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARCH Venture Management LLC acquired a new stake in shares of Rapport Therapeutics during the 2nd quarter valued at about $86,730,000. Johnson & Johnson purchased a new position in shares of Rapport Therapeutics during the 2nd quarter valued at approximately $58,105,000. Sofinnova Investments Inc. purchased a new stake in Rapport Therapeutics in the 2nd quarter worth $45,393,000. Perceptive Advisors LLC acquired a new position in Rapport Therapeutics during the second quarter worth $17,403,000. Finally, FMR LLC lifted its holdings in Rapport Therapeutics by 10.1% during the third quarter. FMR LLC now owns 5,486,468 shares of the company's stock valued at $112,363,000 after purchasing an additional 503,117 shares in the last quarter.

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.