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Price T Rowe Associates Inc. MD Has $20.29 Million Holdings in Rapport Therapeutics (NASDAQ:RAPP)

Rapport Therapeutics logo with Medical background

Price T Rowe Associates Inc. MD lifted its stake in Rapport Therapeutics (NASDAQ:RAPP - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,143,384 shares of the company's stock after buying an additional 95,976 shares during the period. Price T Rowe Associates Inc. MD owned about 3.13% of Rapport Therapeutics worth $20,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also 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 position in Rapport Therapeutics in the 4th quarter valued at $62,000. JPMorgan Chase & Co. acquired a new position in Rapport Therapeutics in the third quarter worth $83,000. Wells Fargo & Company MN grew its holdings 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 worth $86,000 after purchasing an additional 1,352 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rapport Therapeutics in the fourth quarter valued at $138,000.

Insider Activity

In related news, Director Wendy B. Young purchased 6,000 shares of Rapport Therapeutics stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Troy A. Ignelzi acquired 9,900 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $10.10 per share, with a total value 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 disclosure for this purchase can be found here.

Analysts Set New Price Targets

RAPP has been the topic of several research reports. Citizens Jmp began coverage on shares of Rapport Therapeutics in a research report on Tuesday, April 8th. They set a "mkt outperform" rating on the stock. JMP Securities assumed coverage on shares of Rapport Therapeutics in a research note on Tuesday, April 8th. They set a "market outperform" rating and a $28.00 price target on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $32.67.

Read Our Latest Research Report on Rapport Therapeutics

Rapport Therapeutics Stock Down 3.1 %

RAPP stock traded down $0.35 during midday trading on Monday, reaching $10.98. The stock had a trading volume of 107,590 shares, compared to its average volume of 176,431. The firm has a market cap of $400.75 million and a price-to-earnings ratio of -0.79. Rapport Therapeutics has a twelve month low of $6.43 and a twelve month high of $29.74. The business has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $15.90.

About Rapport Therapeutics

(Free Report)

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.

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Institutional Ownership by Quarter for Rapport Therapeutics (NASDAQ:RAPP)

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