Price T Rowe Associates Inc. MD Increases Stake in Rapport Therapeutics (NASDAQ:RAPP)

Price T Rowe Associates Inc. MD increased its position in Rapport Therapeutics (NASDAQ:RAPP - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,143,384 shares of the company's stock after purchasing an additional 95,976 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.13% of Rapport Therapeutics worth $20,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Rapport Therapeutics in the fourth quarter valued at about $34,000. New York State Common Retirement Fund bought a new stake in shares of Rapport Therapeutics in the 4th quarter valued at about $62,000. JPMorgan Chase & Co. purchased a new stake in shares of Rapport Therapeutics in the 3rd quarter worth approximately $83,000. Wells Fargo & Company MN boosted its stake in shares of 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 in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Rapport Therapeutics during the fourth quarter valued at approximately $138,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RAPP. Citizens Jmp initiated coverage on Rapport Therapeutics in a report on Tuesday, April 8th. They set a "mkt outperform" rating for the company. JMP Securities assumed coverage on Rapport Therapeutics in a research report on Tuesday, April 8th. They set a "market outperform" rating and a $28.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $32.67.

Rapport Therapeutics Price Performance

Rapport Therapeutics stock traded down $0.07 during mid-day trading on Wednesday, reaching $10.33. 4,051 shares of the company traded hands, compared to its average volume of 175,583. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $29.74. The firm's fifty day moving average is $9.88 and its two-hundred day moving average is $15.76. The company has a market capitalization of $376.84 million and a price-to-earnings ratio of -0.74.

Insider Buying and Selling at Rapport Therapeutics

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

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.