Rapport Therapeutics (NASDAQ:RAPP) Trading Up 7% – Time to Buy?

Rapport Therapeutics (NASDAQ:RAPP) shares were up 7% during mid-day trading on Friday . The stock traded as high as $19.80 and last traded at $19.62. Approximately 26,674 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 183,322 shares. The stock had previously closed at $18.34.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RAPP shares. Jefferies Financial Group assumed coverage on Rapport Therapeutics in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $35.00 target price on the stock. TD Cowen assumed 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 Rapport Therapeutics in a research note on Tuesday, July 2nd. They set a “buy” rating and a $35.00 price objective on the stock.

Rapport Therapeutics Price Performance

The company’s 50 day simple moving average is $20.47.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, August 8th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.68) by ($1.02). On average, equities analysts expect that Rapport Therapeutics will post -3.46 EPS for the current year.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Rapport Therapeutics during the third quarter worth about $101,000. Logos Global Management LP purchased a new position in Rapport Therapeutics during the second quarter worth about $4,859,000. Perceptive Advisors LLC purchased a new position in Rapport Therapeutics during the second quarter worth about $17,403,000. The Manufacturers Life Insurance Company purchased a new position in Rapport Therapeutics during the second quarter worth about $1,757,000. Finally, Millennium Management LLC purchased a new position in Rapport Therapeutics during the second quarter worth about $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.