Rapport Therapeutics (NASDAQ:RAPP) Shares Gap Up – Here’s Why

Rapport Therapeutics (NASDAQ:RAPP) gapped up prior to trading on Wednesday . The stock had previously closed at $12.69, but opened at $13.51. Rapport Therapeutics shares last traded at $13.76, with a volume of 11,234 shares changing hands.

Rapport Therapeutics Stock Performance

The firm has a 50 day moving average price of $20.26 and a two-hundred day moving average price of $21.42.

Hedge Funds Weigh In On Rapport Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in Rapport Therapeutics by 10.1% during the 3rd quarter. FMR LLC now owns 5,486,468 shares of the company’s stock worth $112,363,000 after buying an additional 503,117 shares during the period. ARCH Venture Management LLC acquired a new stake in shares of Rapport Therapeutics during the second quarter valued at approximately $86,730,000. Sofinnova Investments Inc. acquired a new position in Rapport Therapeutics in the 2nd quarter worth approximately $45,393,000. Perceptive Advisors LLC purchased a new position in Rapport Therapeutics during the 2nd quarter worth approximately $17,403,000. Finally, Logos Global Management LP purchased a new stake in shares of Rapport Therapeutics in the second quarter valued at $4,859,000.

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.