Rapport Therapeutics (NASDAQ:RAPP) Shares Down 2.7% – Should You Sell?

Rapport Therapeutics (NASDAQ:RAPP)’s stock price dropped 2.7% during mid-day trading on Friday . The company traded as low as $27.28 and last traded at $27.28. Approximately 30,346 shares changed hands during trading, a decline of 83% from the average daily volume of 176,428 shares. The stock had previously closed at $28.05.

Analyst Ratings Changes

RAPP has been the topic of several research reports. TD Cowen started coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 target price for the company. Finally, 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 objective on the stock.

Rapport Therapeutics Stock Down 2.4 %

The firm has a 50-day moving average of $20.92.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, August 8th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.68) by ($1.02). On average, equities research analysts predict that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Institutional Trading of Rapport Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RAPP. SG Americas Securities LLC purchased a new stake in Rapport Therapeutics during the third quarter valued at about $101,000. Sandia Investment Management LP purchased a new stake in Rapport Therapeutics in the 2nd quarter worth approximately $116,000. Davidson Kempner Capital Management LP purchased a new position in Rapport Therapeutics during the 2nd quarter valued at $229,000. Squarepoint Ops LLC bought a new position in Rapport Therapeutics in the second quarter worth about $380,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Rapport Therapeutics in the 2nd 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.