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 during the month of 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. Based on an average daily trading volume, of 202,200 shares, the short-interest ratio is currently 11.4 days. Approximately 13.3% of the company’s shares are short sold.

Rapport Therapeutics Price Performance

RAPP opened at $10.03 on Tuesday. Rapport Therapeutics has a 12 month low of $6.43 and a 12 month high of $29.74. The business has a 50-day moving average of $12.49 and a two-hundred day moving average of $17.92. The stock has a market capitalization of $366.05 million and a price-to-earnings ratio of -0.72.

Insider Activity

In other Rapport Therapeutics news, CFO Troy A. Ignelzi acquired 9,900 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $99,990.00. Following the completion of the acquisition, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wendy B. Young bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $10.21 per share, with a total value of $61,260.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $61,260. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Rapport Therapeutics

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in Rapport Therapeutics during the third quarter worth approximately $34,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Rapport Therapeutics during the 4th quarter worth $34,000. Deutsche Bank AG purchased a new position in shares of Rapport Therapeutics in the 4th quarter worth $41,000. New York State Common Retirement Fund purchased a new position in shares of Rapport Therapeutics in the 4th quarter worth $62,000. Finally, Virtus ETF Advisers LLC acquired a new position in Rapport Therapeutics in the fourth quarter valued at $66,000.

Rapport Therapeutics Company Profile

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.