Rapport Therapeutics (NASDAQ:RAPP) Hits New 1-Year High – What’s Next?

Rapport Therapeutics (NASDAQ:RAPP) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.16 and last traded at $28.08, with a volume of 103644 shares changing hands. The stock had previously closed at $25.88.

Analysts Set New Price Targets

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

Rapport Therapeutics Stock Performance

The company has a 50-day moving average of $20.52.

Rapport Therapeutics (NASDAQ:RAPP) last issued its 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). Equities research analysts expect that Rapport Therapeutics will post -3.46 earnings per share for the current year.

Institutional Trading of Rapport Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Rapport Therapeutics in the third quarter valued at approximately $101,000. Sandia Investment Management LP bought a new stake in Rapport Therapeutics during the 2nd quarter worth approximately $116,000. Davidson Kempner Capital Management LP acquired a new position in Rapport Therapeutics in the 2nd quarter valued at approximately $229,000. Squarepoint Ops LLC bought a new position in shares of Rapport Therapeutics during the second quarter valued at $380,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Rapport Therapeutics during the second quarter worth $1,757,000.

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.