Rapport Therapeutics (NASDAQ:RAPP) Sees Large Decrease in Short Interest

Rapport Therapeutics (NASDAQ:RAPP) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,740,000 shares, a drop of 17.5% from the October 31st total of 2,110,000 shares. Currently, 10.0% of the shares of the company are sold short. Based on an average daily volume of 147,800 shares, the short-interest ratio is presently 11.8 days.

Rapport Therapeutics Stock Performance

Shares of NASDAQ RAPP traded up $0.45 during trading on Friday, hitting $22.84. 30,110 shares of the company were exchanged, compared to its average volume of 154,769. The stock has a fifty day moving average price of $23.12. Rapport Therapeutics has a 1 year low of $16.55 and a 1 year high of $29.74.

Hedge Funds Weigh In On Rapport Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position 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 valued at $112,363,000 after purchasing an additional 503,117 shares during the last quarter. ARCH Venture Management LLC acquired a new stake in Rapport Therapeutics during the 2nd quarter valued at $86,730,000. Johnson & Johnson acquired a new stake in Rapport Therapeutics during the 2nd quarter valued at $58,105,000. Sofinnova Investments Inc. purchased a new position in Rapport Therapeutics during the second quarter worth $45,393,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Rapport Therapeutics in the second quarter worth $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.