Wells Fargo & Company MN Raises Holdings in Rapport Therapeutics (NASDAQ:RAPP)

Wells Fargo & Company MN raised its stake in Rapport Therapeutics (NASDAQ:RAPP) by 38.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,824 shares of the company’s stock after purchasing an additional 1,352 shares during the period. Wells Fargo & Company MN’s holdings in Rapport Therapeutics were worth $86,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RAPP. KLP Kapitalforvaltning AS purchased a new position in Rapport Therapeutics during the 4th quarter worth $34,000. New York State Common Retirement Fund purchased a new position in shares of Rapport Therapeutics in the 4th quarter valued at about $62,000. JPMorgan Chase & Co. purchased a new stake in Rapport Therapeutics during the third quarter worth $83,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Rapport Therapeutics during the 4th quarter worth approximately $138,000. Finally, Barclays PLC increased its stake in shares of Rapport Therapeutics by 36.8% during the 3rd quarter. Barclays PLC now owns 12,863 shares of the company’s stock worth $264,000 after purchasing an additional 3,463 shares in the last quarter.

Rapport Therapeutics Stock Up 2.1%

Shares of NASDAQ:RAPP opened at $10.47 on Tuesday. The company has a market cap of $382.13 million and a P/E ratio of -3.03. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $29.74. The business has a fifty day simple moving average of $9.96 and a 200-day simple moving average of $15.29.

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

Insider Transactions at Rapport Therapeutics

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JMP Securities assumed coverage on shares of Rapport Therapeutics in a report on Tuesday, April 8th. They issued a “market outperform” rating and a $28.00 target price on the stock. Citizens Jmp assumed coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They issued a “mkt outperform” rating for the company. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rapport Therapeutics has a consensus rating of “Buy” and an average target price 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.