Rain Oncology (NASDAQ:RAIN) Downgraded by HC Wainwright

HC Wainwright cut shares of Rain Oncology (NASDAQ:RAIN – Get Rating) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, The Fly reports. HC Wainwright also issued estimates for Rain Oncology’s Q2 2023 earnings at ($0.44) EPS, Q3 2023 earnings at ($0.44) EPS, Q4 2023 earnings at ($0.45) EPS, FY2023 earnings at ($1.89) EPS, Q1 2024 earnings at ($0.23) EPS, Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.18) EPS and FY2024 earnings at ($0.71) EPS.

A number of other equities analysts have also recently issued reports on RAIN. SVB Securities initiated coverage on Rain Oncology in a report on Tuesday, March 21st. They set an outperform rating and a $11.00 price objective for the company. Guggenheim cut Rain Oncology from a buy rating to a neutral rating in a report on Monday. Citigroup cut Rain Oncology from a buy rating to a neutral rating in a report on Tuesday. Piper Sandler cut Rain Oncology from an overweight rating to a neutral rating in a report on Monday. Finally, Roth Capital restated a buy rating and set a $21.00 price objective on shares of Rain Oncology in a report on Tuesday, January 31st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $16.44.

Rain Oncology Stock Performance

Shares of Rain Oncology stock opened at $1.14 on Tuesday. The stock has a market cap of $41.45 million, a price-to-earnings ratio of -0.44 and a beta of 0.04. The stock has a 50 day moving average price of $7.62 and a 200-day moving average price of $8.12. Rain Oncology has a one year low of $1.05 and a one year high of $14.48.

Rain Oncology (NASDAQ:RAIN – Get Rating) last announced its earnings results on Thursday, May 11th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.01. Sell-side analysts predict that Rain Oncology will post -2.09 earnings per share for the current fiscal year.

Insider Transactions at Rain Oncology

In other news, insider Boxer Capital, Llc sold 995,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $1.25, for a total value of $1,243,750.00. Following the completion of the transaction, the insider now directly owns 1,152,212 shares of the company’s stock, valued at approximately $1,440,265. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sectoral Asset Management Inc. acquired a new position in Rain Oncology during the 4th quarter valued at about $150,000. Monashee Investment Management LLC acquired a new position in Rain Oncology during the 4th quarter valued at about $2,513,000. GMT Capital Corp acquired a new position in Rain Oncology during the 4th quarter valued at about $5,170,000. Credit Suisse AG increased its position in Rain Oncology by 224,900.0% during the 3rd quarter. Credit Suisse AG now owns 18,000 shares of the company’s stock valued at $88,000 after buying an additional 17,992 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Rain Oncology by 65.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,655 shares of the company’s stock valued at $84,000 after buying an additional 6,617 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

About Rain Oncology

(Get Rating)

Rain Therapeutics Inc, a clinical-stage precision oncology company, engages in developing therapies that target oncogenic drivers in the United States. Its lead product candidate is milademetan, a small molecule oral inhibitor of mouse double minute 2, which is oncogenic in various cancers. The company is also developing milademetan which is in Phase 3 clinical trial for liposarcoma, Phase II clinical trial for solid tumors, and Phase II clinical trial for intimal sarcoma, as well as RAD52 which is in preclinical trials for tumors, including breast, ovarian, pancreatic, prostate, and other cancers.