T. Rowe Price Investment Management Inc. Trims Stake in Rapport Therapeutics (NASDAQ:RAPP)

T. Rowe Price Investment Management Inc. lessened its holdings in Rapport Therapeutics (NASDAQ:RAPP - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,636,931 shares of the company's stock after selling 90,180 shares during the period. T. Rowe Price Investment Management Inc. owned 4.47% of Rapport Therapeutics worth $29,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RAPP. Geode Capital Management LLC bought a new position in shares of Rapport Therapeutics in the third quarter valued at about $4,133,000. State Street Corp acquired a new position in shares of Rapport Therapeutics in the 3rd quarter valued at approximately $1,189,000. Jennison Associates LLC bought a new stake in Rapport Therapeutics during the fourth quarter worth $1,105,000. KLP Kapitalforvaltning AS acquired a new stake in Rapport Therapeutics in the fourth quarter valued at about $34,000. Finally, Barclays PLC grew its holdings in shares of Rapport Therapeutics by 36.8% during the 3rd quarter. Barclays PLC now owns 12,863 shares of the company's stock valued at $264,000 after purchasing an additional 3,463 shares during the last quarter.

Insiders Place Their Bets

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

Rapport Therapeutics Stock Performance

NASDAQ:RAPP traded up $0.39 on Wednesday, hitting $11.45. The stock had a trading volume of 98,157 shares, compared to its average volume of 177,422. The stock has a market cap of $417.90 million and a P/E ratio of -0.83. The firm's fifty day simple moving average is $9.96 and its two-hundred day simple moving average is $16.30. Rapport Therapeutics has a 1 year low of $6.43 and a 1 year high of $29.74.

Analyst Ratings Changes

Several equities analysts have commented on RAPP shares. 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 target price for the company. Citizens Jmp began coverage on shares of Rapport Therapeutics in a research note on Tuesday, April 8th. They issued a "mkt outperform" rating on the stock. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average 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.