Rapport Therapeutics (NASDAQ:RAPP) Short Interest Up 27.6% in March

Rapport Therapeutics (NASDAQ:RAPP) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 2,310,000 shares, an increase of 27.6% from the February 28th total of 1,810,000 shares. Currently, 13.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 202,200 shares, the days-to-cover ratio is currently 11.4 days.

Rapport Therapeutics Stock Up 4.2 %

Shares of Rapport Therapeutics stock traded up $0.40 during trading on Wednesday, hitting $9.96. 160,510 shares of the stock traded hands, compared to its average volume of 177,110. The stock has a market cap of $363.50 million and a price-to-earnings ratio of -0.72. Rapport Therapeutics has a 52 week low of $6.43 and a 52 week high of $29.74. The firm’s fifty day moving average is $12.42 and its 200-day moving average is $17.85.

Insider Buying and Selling

In other Rapport Therapeutics news, Director Wendy B. Young acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $10.21 per share, with a total value of $61,260.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $61,260. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Troy A. Ignelzi bought 9,900 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost 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. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Rapport Therapeutics

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its stake in shares of Rapport Therapeutics by 1,151.2% during the fourth quarter. California State Teachers Retirement System now owns 8,571 shares of the company’s stock valued at $152,000 after buying an additional 7,886 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Rapport Therapeutics in the fourth quarter worth approximately $41,000. Crestline Management LP purchased a new position in shares of Rapport Therapeutics in the fourth quarter worth $488,000. Virtus ETF Advisers LLC purchased a new position in shares of Rapport Therapeutics in the fourth quarter valued at about $66,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Rapport Therapeutics by 9.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,143,384 shares of the company’s stock valued at $20,285,000 after acquiring an additional 95,976 shares during the last quarter.

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.