Rapport Therapeutics (NASDAQ:RAPP) Sees Significant Increase in Short Interest

Rapport Therapeutics (NASDAQ:RAPP) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,840,000 shares, a growth of 32.4% from the September 15th total of 1,390,000 shares. Based on an average daily volume of 159,300 shares, the days-to-cover ratio is currently 11.6 days. Approximately 10.2% of the company’s shares are short sold.

Rapport Therapeutics Trading Up 2.5 %

RAPP traded up $0.61 during trading hours on Tuesday, reaching $25.00. 25,083 shares of the stock traded hands, compared to its average volume of 175,568. Rapport Therapeutics has a fifty-two week low of $16.55 and a fifty-two week high of $28.08. The business’s fifty day moving average price is $20.43.

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

Analyst Upgrades and Downgrades

RAPP has been the subject of a number of research reports. Jefferies Financial Group began coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price target for the company. TD Cowen started coverage on Rapport Therapeutics in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, Stifel Nicolaus initiated coverage on Rapport Therapeutics in a report on Tuesday, July 2nd. They set a “buy” rating and a $35.00 target price on the stock.

Institutional Trading of Rapport Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter valued at approximately $17,403,000. ARCH Venture Management LLC bought a new stake in Rapport Therapeutics during the second quarter valued at $86,730,000. TD Asset Management Inc acquired a new stake in shares of Rapport Therapeutics during the second quarter worth $2,361,000. Johnson & Johnson bought a new position in shares of Rapport Therapeutics in the 2nd quarter worth about $58,105,000. Finally, Logos Global Management LP acquired a new position in shares of Rapport Therapeutics in the 2nd quarter valued at about $4,859,000.

About Rapport Therapeutics

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.