Rapport Therapeutics (NASDAQ:RAPP) Stock Price Down 4.2% – What’s Next?

Rapport Therapeutics (NASDAQ:RAPP) fell 4.2% during mid-day trading on Friday . The stock traded as low as $23.71 and last traded at $23.79. 9,394 shares traded hands during trading, a decline of 95% from the average session volume of 171,124 shares. The stock had previously closed at $24.83.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RAPP. TD Cowen began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating for the company. Jefferies Financial Group began coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price objective for the company.

Rapport Therapeutics Price Performance

The business has a 50-day moving average price of $21.55.

Rapport Therapeutics (NASDAQ:RAPP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($1.02). Equities research analysts anticipate that Rapport Therapeutics will post -3.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Values First Advisors Inc. acquired a new position in shares of Rapport Therapeutics in the 3rd quarter valued at $31,000. SG Americas Securities LLC acquired a new position in shares of Rapport Therapeutics in the 3rd quarter valued at $101,000. Sandia Investment Management LP acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $116,000. Davidson Kempner Capital Management LP bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth about $229,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth about $380,000.

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.