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

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

Rapport Therapeutics Stock Down 0.2 %

Shares of RAPP stock opened at $10.03 on Tuesday. The stock has a market cap of $366.05 million and a P/E ratio of -0.72. Rapport Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $29.74. The business has a fifty day simple moving average of $12.49 and a 200-day simple moving average of $17.92.

Insider Activity at Rapport Therapeutics

In related news, Director Wendy B. Young purchased 6,000 shares of Rapport Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $10.21 per share, for a total transaction of $61,260.00. Following the transaction, the director now owns 6,000 shares in the company, valued at approximately $61,260. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Troy A. Ignelzi purchased 9,900 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $99,990.00. Following the purchase, the chief financial officer now directly owns 9,900 shares in the company, valued at approximately $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

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in shares of Rapport Therapeutics in the third quarter valued at about $34,000. KLP Kapitalforvaltning AS purchased a new stake in Rapport Therapeutics in the 4th quarter valued at approximately $34,000. Deutsche Bank AG acquired a new stake in Rapport Therapeutics during the 4th quarter valued at $41,000. New York State Common Retirement Fund purchased a new position in Rapport Therapeutics during the fourth quarter worth $62,000. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Rapport Therapeutics in the fourth quarter worth $66,000.

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.