Rain Oncology (NASDAQ:RAIN) Rating Lowered to Market Perform at Lifesci Capital

Lifesci Capital downgraded shares of Rain Oncology (NASDAQ:RAIN – Get Rating) from an outperform rating to a market perform rating in a research report report published on Monday, PriceTargets.com reports.

Several other research firms have also commented on RAIN. Piper Sandler lowered shares of Rain Oncology from an overweight rating to a neutral rating in a report on Monday. Citigroup lowered shares of Rain Oncology from a buy rating to a neutral rating in a report on Tuesday. SVB Securities initiated coverage on shares of Rain Oncology in a report on Tuesday, March 21st. They set an outperform rating and a $11.00 price target on the stock. Roth Capital reiterated a buy rating and set a $21.00 target price on shares of Rain Oncology in a research report on Tuesday, January 31st. Finally, HC Wainwright downgraded shares of Rain Oncology from a buy rating to a neutral rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Rain Oncology currently has an average rating of Hold and a consensus target price of $16.44.

Rain Oncology Trading Down 8.1 %

Shares of RAIN opened at $1.14 on Monday. The stock has a market capitalization of $41.45 million, a price-to-earnings ratio of -0.44 and a beta of 0.04. The firm has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $8.12. Rain Oncology has a 12 month low of $1.05 and a 12 month high of $14.48.

Rain Oncology (NASDAQ:RAIN – Get Rating) last released its quarterly 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. As a group, research analysts predict that Rain Oncology will post -2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Boxer Capital, Llc sold 995,000 shares of Rain Oncology stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $1.25, for a total value of $1,243,750.00. Following the transaction, the insider now directly owns 1,152,212 shares of the company’s stock, valued at $1,440,265. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 21.90% of the company’s stock.

Institutional Trading of Rain Oncology

A number of hedge funds have recently modified their holdings of RAIN. Jane Street Group LLC boosted its stake in Rain Oncology by 134.6% in the 1st quarter. Jane Street Group LLC now owns 38,251 shares of the company’s stock worth $334,000 after purchasing an additional 21,946 shares in the last quarter. State Street Corp raised its position in Rain Oncology by 77.8% in the 1st quarter. State Street Corp now owns 55,063 shares of the company’s stock worth $481,000 after buying an additional 24,100 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Rain Oncology during the 1st quarter valued at about $99,000. Geode Capital Management LLC increased its position in shares of Rain Oncology by 62.1% during the 1st quarter. Geode Capital Management LLC now owns 161,893 shares of the company’s stock valued at $1,415,000 after purchasing an additional 62,033 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Rain Oncology by 60.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 200,000 shares of the company’s stock valued at $1,748,000 after purchasing an additional 75,000 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

About Rain Oncology

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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.