Rapport Therapeutics (NASDAQ:RAPP) Shares Down 4.2% – Time to Sell?

Rapport Therapeutics (NASDAQ:RAPP)’s stock price dropped 4.2% during trading on Friday . The company traded as low as $23.71 and last traded at $23.79. Approximately 9,394 shares changed hands during trading, a decline of 95% from the average daily volume of 171,124 shares. The stock had previously closed at $24.83.

Analysts Set New Price Targets

A number of brokerages recently commented on RAPP. Jefferies Financial Group began coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price objective for the company. Stifel Nicolaus initiated coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price target for the company. Finally, TD Cowen began coverage on shares of Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating for the company.

Rapport Therapeutics Stock Down 3.3 %

The stock’s fifty day moving average price is $21.48.

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

Hedge Funds Weigh In On Rapport Therapeutics

A number of institutional investors have recently made changes to their positions in the business. TD Asset Management Inc acquired a new stake in Rapport Therapeutics during the second quarter worth about $2,361,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics in the 2nd quarter valued at $58,105,000. Sofinnova Investments Inc. bought a new stake in Rapport Therapeutics in the second quarter valued at $45,393,000. Davidson Kempner Capital Management LP acquired a new position in Rapport Therapeutics during the second quarter worth $229,000. Finally, ARCH Venture Management LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at $86,730,000.

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.