Rapport Therapeutics (NASDAQ:RAPP) Trading Down 4% – Here’s Why

Rapport Therapeutics (NASDAQ:RAPP) shares fell 4% during trading on Tuesday . The stock traded as low as $17.60 and last traded at $17.75. 19,174 shares were traded during mid-day trading, a decline of 87% from the average session volume of 151,377 shares. The stock had previously closed at $18.49.

Rapport Therapeutics Stock Down 4.6 %

The stock’s 50-day moving average is $22.17.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in RAPP. TD Asset Management Inc purchased a new position in Rapport Therapeutics during the second quarter valued at $2,361,000. Johnson & Johnson purchased a new position in Rapport Therapeutics during the 2nd quarter valued at about $58,105,000. Sofinnova Investments Inc. bought a new stake in Rapport Therapeutics during the second quarter worth about $45,393,000. Davidson Kempner Capital Management LP purchased a new stake in Rapport Therapeutics in the second quarter worth about $229,000. Finally, ARCH Venture Management LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at approximately $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.