Rapport Therapeutics (NASDAQ:RAPP) Short Interest Update

Rapport Therapeutics (NASDAQ:RAPP) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,800,000 shares, an increase of 21.2% from the March 15th total of 2,310,000 shares. Based on an average daily volume of 219,400 shares, the days-to-cover ratio is presently 12.8 days. Approximately 16.1% of the company’s shares are short sold.

Insider Buying and Selling at Rapport Therapeutics

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

Institutional Investors Weigh In On Rapport Therapeutics

Several large investors have recently bought and sold shares of RAPP. KLP Kapitalforvaltning AS purchased a new stake in shares of Rapport Therapeutics during the 4th quarter valued at about $34,000. Deutsche Bank AG purchased a new stake in Rapport Therapeutics in the fourth quarter worth approximately $41,000. New York State Common Retirement Fund purchased a new stake in Rapport Therapeutics in the fourth quarter worth approximately $62,000. Virtus ETF Advisers LLC bought a new stake in Rapport Therapeutics in the 4th quarter worth approximately $66,000. Finally, JPMorgan Chase & Co. purchased a new stake in Rapport Therapeutics during the 3rd quarter valued at $83,000.

Rapport Therapeutics Trading Up 4.0 %

RAPP stock opened at $10.15 on Friday. The stock’s 50 day simple moving average is $10.50 and its 200 day simple moving average is $16.75. Rapport Therapeutics has a 12-month low of $6.43 and a 12-month high of $29.74. The stock has a market capitalization of $370.43 million and a PE ratio of -0.73.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RAPP. Citizens Jmp started coverage on shares of Rapport Therapeutics in a research note on Tuesday, April 8th. They set a “mkt outperform” rating for the company. JMP Securities assumed coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They set a “market outperform” rating and a $28.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.67.

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.