Rapport Therapeutics (NASDAQ:RAPP) Shares Up 4.6% – Time to Buy?

Rapport Therapeutics (NASDAQ:RAPP) shot up 4.6% during mid-day trading on Wednesday . The stock traded as high as $15.20 and last traded at $15.10. 11,482 shares were traded during trading, a decline of 88% from the average session volume of 94,797 shares. The stock had previously closed at $14.43.

Rapport Therapeutics Stock Up 4.6 %

The business’s 50 day moving average is $18.16 and its 200-day moving average is $20.66.

Rapport Therapeutics (NASDAQ:RAPP) last released its earnings results on Thursday, November 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.07. Equities analysts anticipate that Rapport Therapeutics will post -3.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds have recently made changes to their positions in the stock. FMR LLC increased its stake in Rapport Therapeutics by 10.1% in the third quarter. FMR LLC now owns 5,486,468 shares of the company’s stock valued at $112,363,000 after acquiring an additional 503,117 shares during the period. Logos Global Management LP acquired a new stake in Rapport Therapeutics during the second quarter valued at approximately $4,859,000. Geode Capital Management LLC bought a new stake in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $4,133,000. Millennium Management LLC acquired a new position in shares of Rapport Therapeutics in the 2nd quarter worth approximately $2,716,000. Finally, Eventide Asset Management LLC lifted its position in shares of Rapport Therapeutics by 120.8% during the 3rd quarter. Eventide Asset Management LLC now owns 110,401 shares of the company’s stock worth $2,261,000 after buying an additional 60,401 shares during the period.

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.