Short Interest in Rapport Therapeutics (NASDAQ:RAPP) Declines By 15.3%

Rapport Therapeutics (NASDAQ:RAPP) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,500,000 shares, a decline of 15.3% from the December 31st total of 1,770,000 shares. Based on an average daily trading volume, of 104,700 shares, the short-interest ratio is currently 14.3 days. Currently, 8.6% of the company’s shares are short sold.

Rapport Therapeutics Price Performance

Shares of Rapport Therapeutics stock traded down $0.24 on Friday, reaching $16.41. The company had a trading volume of 129,718 shares, compared to its average volume of 89,837. The firm’s 50 day moving average price is $17.78 and its two-hundred day moving average price is $20.54. Rapport Therapeutics has a 52-week low of $12.09 and a 52-week high of $29.74.

Rapport Therapeutics (NASDAQ:RAPP) last announced its earnings results on Thursday, November 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.07. As a group, equities research analysts expect that Rapport Therapeutics will post -3.65 earnings per share for the current year.

Hedge Funds Weigh In On Rapport Therapeutics

Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Rapport Therapeutics by 10.1% in the third quarter. FMR LLC now owns 5,486,468 shares of the company’s stock worth $112,363,000 after acquiring an additional 503,117 shares in the last quarter. Geode Capital Management LLC purchased a new position in Rapport Therapeutics in the third quarter valued at $4,133,000. Millennium Management LLC acquired a new position in Rapport Therapeutics during the 2nd quarter worth $2,716,000. Eventide Asset Management LLC increased its holdings in Rapport Therapeutics by 120.8% during the 3rd quarter. Eventide Asset Management LLC now owns 110,401 shares of the company’s stock worth $2,261,000 after purchasing an additional 60,401 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Rapport Therapeutics by 2.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 77,344 shares of the company’s stock valued at $1,584,000 after purchasing an additional 1,828 shares in 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.