Rapport Therapeutics (NASDAQ:RAPP) Short Interest Up 27.6% in March

Rapport Therapeutics (NASDAQ:RAPP) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,310,000 shares, a growth of 27.6% from the February 28th total of 1,810,000 shares. Approximately 13.3% of the company’s stock are sold short. Based on an average daily volume of 202,200 shares, the short-interest ratio is currently 11.4 days.

Rapport Therapeutics Stock Up 4.2 %

RAPP traded up $0.40 during mid-day trading on Wednesday, reaching $9.96. 160,510 shares of the company traded hands, compared to its average volume of 177,110. Rapport Therapeutics has a 52-week low of $6.43 and a 52-week high of $29.74. The stock has a market capitalization of $363.50 million and a P/E ratio of -0.72. The company’s fifty day moving average price is $12.42 and its 200-day moving average price is $17.85.

Insider Activity

In other news, Director Wendy B. Young acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $10.21 per share, for a total transaction of $61,260.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $61,260. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Troy A. Ignelzi purchased 9,900 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $10.10 per share, with a total value of $99,990.00. Following the purchase, the chief financial officer now directly owns 9,900 shares of the company’s stock, valued at approximately $99,990. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of Rapport Therapeutics by 38.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,824 shares of the company’s stock worth $86,000 after purchasing an additional 1,352 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Rapport Therapeutics during the 3rd quarter valued at about $34,000. The Manufacturers Life Insurance Company lifted its position in shares of Rapport Therapeutics by 2.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 77,344 shares of the company’s stock valued at $1,584,000 after buying an additional 1,828 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Rapport Therapeutics during the 4th quarter worth approximately $34,000. Finally, Deutsche Bank AG bought a new position in shares of Rapport Therapeutics in the fourth quarter worth approximately $41,000.

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.