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

by · The Markets Daily

Rapport Therapeutics (NASDAQ:RAPP – Get Free Report) 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 – Get Free Report) 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.

View Our Latest Analysis on Rapport Therapeutics

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

(Get Free Report)

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.

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