Rapport Therapeutics (NASDAQ:RAPP) Hits New 12-Month High – Here’s What Happened

Rapport Therapeutics (NASDAQ:RAPP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.16 and last traded at $28.08, with a volume of 103644 shares traded. The stock had previously closed at $25.88.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RAPP shares. Jefferies Financial Group assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price on the stock. TD Cowen assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, Stifel Nicolaus initiated 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.

Rapport Therapeutics Trading Down 7.5 %

The company has a fifty day moving average price of $20.92.

Rapport Therapeutics (NASDAQ:RAPP) 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). As a group, equities analysts forecast that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Rapport Therapeutics in the third quarter valued at about $101,000. Sandia Investment Management LP purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $116,000. Davidson Kempner Capital Management LP bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at about $229,000. Squarepoint Ops LLC purchased a new stake in shares of Rapport Therapeutics in the 2nd quarter worth approximately $380,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $1,757,000.

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.