Rapport Therapeutics Inc. (RAPP) Shares Down Despite Recent Market Volatility

The stock of Rapport Therapeutics Inc. (NASDAQ: RAPP) has decreased by -7.85 when compared to last closing price of 25.87.Despite this, the company has seen a loss of -4.68% in its stock price over the last five trading days. globenewswire.com reported 2024-06-12 that BOSTON and SAN DIEGO, June 12, 2024 (GLOBE NEWSWIRE) — Rapport Therapeutics, Inc. (Nasdaq: RAPP), a clinical-stage biotechnology company focused on discovery and development of transformational small molecule medicines for patients suffering from central nervous system disorders, today announced the closing of its initial public offering of 9,200,000 shares of its common stock at a public offering price of $17.00 per share, which includes 1,200,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the offering. Rapport’s shares began trading on the Nasdaq Global Market on June 7, 2024, under the ticker symbol “RAPP.” All of the shares of common stock were sold by Rapport.

Is It Worth Investing in Rapport Therapeutics Inc. (NASDAQ: RAPP) Right Now?

Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for RAPP is 18.21M, and currently, short sellers hold a 1.28% ratio of that floaft. The average trading volume of RAPP on July 11, 2024 was 323.67K shares.

RAPP’s Market Performance

The volatility ratio for the week is 9.23%, and the volatility levels for the last 30 days are 14.15% for Rapport Therapeutics Inc. (RAPP). The simple moving average for the past 20 days is 0.53% for RAPP’s stock, with a 1.12% simple moving average for the past 200 days.

Analysts’ Opinion of RAPP

Stifel, on the other hand, stated in their research note that they expect to see RAPP reach a price target of $35. The rating they have provided for RAPP stocks is “Buy” according to the report published on July 02nd, 2024.

Jefferies gave a rating of “Buy” to RAPP, setting the target price at $35 in the report published on July 02nd of the current year.

RAPP Trading at 1.12% from the 50-Day Moving Average

After a stumble in the market that brought RAPP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.06% of loss for the given period.

Volatility was left at 14.15%, however, over the last 30 days, the volatility rate increased by 9.23%, as shares sank -8.97% for the moving average over the last 20 days.

During the last 5 trading sessions, RAPP fell by -4.68%, in comparison to the 20-day moving average, which settled at $23.60. In addition, Rapport Therapeutics Inc. saw 14.62% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at RAPP starting from HEALY JAMES, who purchase 44,032 shares at the price of $24.52 back on Jul 01 ’24. After this action, HEALY JAMES now owns 40,851 shares of Rapport Therapeutics Inc., valued at $1,079,575 using the latest closing price.

HEALY JAMES, the Director of Rapport Therapeutics Inc., purchase 558,824 shares at $17.00 during a trade that took place back on Jun 10 ’24, which means that HEALY JAMES is holding 1,863,327 shares at $9,500,008 based on the most recent closing price.

Stock Fundamentals for RAPP

The liquidity ratio also appears to be rather interesting for investors as it stands at 20.10.

Conclusion

In a nutshell, Rapport Therapeutics Inc. (RAPP) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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