Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Down – Here’s Why

Shares of Rapport Therapeutics (NASDAQ:RAPP) gapped down before the market opened on Monday . The stock had previously closed at $25.95, but opened at $25.34. Rapport Therapeutics shares last traded at $24.74, with a volume of 12,638 shares.

Wall Street Analysts Forecast Growth

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

Rapport Therapeutics Stock Down 4.7 %

The firm has a fifty day moving average price of $21.06.

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

Institutional Trading of Rapport Therapeutics

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Rapport Therapeutics in the third quarter valued at approximately $101,000. Logos Global Management LP acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at $4,859,000. Perceptive Advisors LLC purchased a new stake in Rapport Therapeutics during the second quarter worth $17,403,000. The Manufacturers Life Insurance Company acquired a new stake in Rapport Therapeutics during the second quarter valued at $1,757,000. Finally, Millennium Management LLC purchased a new position in Rapport Therapeutics in the second quarter valued at $2,716,000.

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.