Crestline Management LP Makes New $488,000 Investment in Rapport Therapeutics (NASDAQ:RAPP)

Crestline Management LP purchased a new position in Rapport Therapeutics (NASDAQ:RAPP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,496 shares of the company's stock, valued at approximately $488,000. Crestline Management LP owned approximately 0.08% of Rapport Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in shares of Rapport Therapeutics in the fourth quarter valued at approximately $34,000. New York State Common Retirement Fund bought a new stake in Rapport Therapeutics in the fourth quarter worth about $62,000. Virtus ETF Advisers LLC purchased a new position in Rapport Therapeutics in the fourth quarter valued at about $66,000. JPMorgan Chase & Co. purchased a new stake in shares of Rapport Therapeutics during the 3rd quarter worth approximately $83,000. Finally, Wells Fargo & Company MN grew its holdings in Rapport Therapeutics by 38.9% during the fourth quarter. Wells Fargo & Company MN now owns 4,824 shares of the company's stock valued at $86,000 after purchasing an additional 1,352 shares during the period.

Insider Activity

In other Rapport Therapeutics news, CFO Troy A. Ignelzi purchased 9,900 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $10.10 per share, for a total transaction of $99,990.00. Following the acquisition, the chief financial officer now directly owns 9,900 shares in the company, valued at approximately $99,990. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wendy B. Young purchased 6,000 shares of Rapport Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $10.21 per share, for a total transaction of $61,260.00. Following the acquisition, the director now owns 6,000 shares in the company, valued at $61,260. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

RAPP has been the subject of a number of recent research reports. Citizens Jmp initiated coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They issued a "mkt outperform" rating for the company. JMP Securities initiated coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They issued a "market outperform" rating and a $28.00 price target for the company. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rapport Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $32.67.

Rapport Therapeutics Stock Up 1.7%

NASDAQ:RAPP traded up $0.17 during trading hours on Friday, hitting $9.93. 92,793 shares of the company's stock traded hands, compared to its average volume of 189,898. The firm has a market cap of $362.24 million and a P/E ratio of -2.88. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $29.74. The business's fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $15.10.

Rapport Therapeutics (NASDAQ:RAPP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.09. On average, analysts expect that Rapport Therapeutics will post -3.65 EPS for the current year.

Rapport Therapeutics 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.