The assault happened near Clarendon Court at the top of Clifton Road at around 2.30am on Sunday, June 27.
Officers are keen to trace this man who they hope will be able to help them progress their enquiries.
He is described as white with a st
ocky build, approximately 5 foot 5 inches tall with short dark hair.
He is thought to be between 18 to 25 years old and was wearing a dark jumper or hoody with the hood up.
Officers are also keen to trace two men who offered to help the woman who is 17, shortly after the assault occurred.
The assault occurred as the young woman was walking home alone along Clifton Road and an unknown man approached her from behind.
He pushed her against a wall and sexually assaulted her before running off towards the town area.
Shortly afterwards the two men came to the assistance of the woman.
DC 1867 Jo Debarbaro said: "There were still cars driving in the area at 2.30am on Sunday morning and we would like to hear from anyone who believes they may have seen this incident."
If you have any information please contact Rugby CID on 01926 415000 ext 3773 or independent charity Crimestoppers anonymously on 0800 555 111.