Rapport Therapeutics (NASDAQ:RAPP) Sets New 12-Month Low – Here’s What Happened

Rapport Therapeutics (NASDAQ:RAPP) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $16.51 and last traded at $16.67, with a volume of 22375 shares traded. The stock had previously closed at $17.79.

Rapport Therapeutics Price Performance

The firm has a 50-day moving average price of $20.66.

Institutional Investors Weigh In On Rapport Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Rapport Therapeutics by 10.1% during the 3rd quarter. FMR LLC now owns 5,486,468 shares of the company’s stock valued at $112,363,000 after buying an additional 503,117 shares during the last quarter. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics in the second quarter valued at $86,730,000. Johnson & Johnson bought a new position in Rapport Therapeutics during the 2nd quarter valued at $58,105,000. Sofinnova Investments Inc. acquired a new position in Rapport Therapeutics during the 2nd quarter worth $45,393,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Rapport Therapeutics in the 2nd quarter worth about $17,403,000.

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.