Rhumbline Advisers Raises Position in Rapport Therapeutics, Inc. (NASDAQ:RAPP)

Rhumbline Advisers lifted its stake in shares of Rapport Therapeutics, Inc. (NASDAQ:RAPP) by 40.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,358 shares of the company’s stock after purchasing an additional 4,109 shares during the period. Rhumbline Advisers’ holdings in Rapport Therapeutics were worth $144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RAPP. TRV GP V LLC bought a new stake in Rapport Therapeutics during the 4th quarter valued at $126,579,000. TRV GP VI LLC bought a new position in shares of Rapport Therapeutics during the fourth quarter valued at about $17,194,000. Price T Rowe Associates Inc. MD grew its stake in shares of Rapport Therapeutics by 9.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,143,384 shares of the company’s stock valued at $20,285,000 after buying an additional 95,976 shares during the last quarter. Norges Bank bought a new position in shares of Rapport Therapeutics during the fourth quarter valued at about $860,000. Finally, Crestline Management LP purchased a new stake in shares of Rapport Therapeutics during the fourth quarter worth about $488,000.

Rapport Therapeutics Trading Down 5.3%

NASDAQ:RAPP opened at $11.73 on Thursday. Rapport Therapeutics, Inc. has a 12 month low of $6.43 and a 12 month high of $29.74. The company has a market cap of $428.15 million and a PE ratio of -3.40. The company has a 50 day simple moving average of $10.88 and a two-hundred day simple moving average of $12.66.

Rapport Therapeutics (NASDAQ:RAPP) last posted its earnings results on Thursday, May 8th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.09. Research analysts forecast that Rapport Therapeutics, Inc. will post -3.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on RAPP shares. JMP Securities began coverage on shares of Rapport Therapeutics in a report on Tuesday, April 8th. They set a “market outperform” rating and a $28.00 target price for the company. Citizens Jmp initiated coverage on shares of Rapport Therapeutics in a report on Tuesday, April 8th. They set a “mkt outperform” rating for the company. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.67.

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.