Rapport Therapeutics (NASDAQ:RAPP) Short Interest Up 27.6% in March

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,310,000 shares, an increase of 27.6% from the February 28th total of 1,810,000 shares. Approximately 13.3% of the company's stock are sold short. Based on an average daily volume of 202,200 shares, the days-to-cover ratio is currently 11.4 days.

Insider Transactions at Rapport Therapeutics

In related news, CFO Troy A. Ignelzi purchased 9,900 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $99,990.00. Following the completion of the purchase, the chief financial officer now directly owns 9,900 shares in the company, valued at $99,990. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy B. Young purchased 6,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $10.21 per share, for a total transaction of $61,260.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $61,260. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RAPP. TRV GP V LLC bought a new stake in shares of Rapport Therapeutics during the 4th quarter worth about $126,579,000. FMR LLC lifted its position in Rapport Therapeutics by 10.1% during the third quarter. FMR LLC now owns 5,486,468 shares of the company's stock worth $112,363,000 after acquiring an additional 503,117 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rapport Therapeutics by 9.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,143,384 shares of the company's stock worth $20,285,000 after acquiring an additional 95,976 shares during the period. Alliancebernstein L.P. grew its position in shares of Rapport Therapeutics by 0.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,098,415 shares of the company's stock valued at $19,486,000 after purchasing an additional 9,494 shares during the last quarter. Finally, TRV GP VI LLC bought a new position in shares of Rapport Therapeutics during the fourth quarter worth approximately $17,194,000.

Rapport Therapeutics Stock Performance

NASDAQ:RAPP traded up $0.47 during mid-day trading on Friday, hitting $8.99. The stock had a trading volume of 343,370 shares, compared to its average volume of 178,226. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $29.74. The stock has a market cap of $328.10 million and a price-to-earnings ratio of -0.65. The company's 50 day simple moving average is $12.13 and its 200 day simple moving average is $17.65.

About Rapport Therapeutics

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.