Citigroup Lowers Rain Oncology (NASDAQ:RAIN) to Neutral

Citigroup downgraded shares of Rain Oncology (NASDAQ:RAIN – Get Rating) from a buy rating to a neutral rating in a report issued on Tuesday morning, The Fly reports.

A number of other research firms have also recently commented on RAIN. SVB Leerink reiterated an outperform rating and set a $11.00 price objective on shares of Rain Oncology in a research report on Tuesday, March 21st. Mizuho dropped their price objective on Rain Oncology from $18.00 to $17.00 and set a buy rating for the company in a research report on Monday, March 13th. Guggenheim cut Rain Oncology from a buy rating to a neutral rating in a research report on Monday. SVB Securities assumed coverage on Rain Oncology in a report on Tuesday, March 21st. They issued an outperform rating and a $11.00 price target for the company. Finally, HC Wainwright lifted their price target on Rain Oncology from $12.00 to $19.00 and gave the company a buy rating in a report on Friday, March 10th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $16.44.

Rain Oncology Stock Down 8.1 %

NASDAQ:RAIN opened at $1.14 on Tuesday. The company has a market capitalization of $41.45 million, a PE ratio of -0.44 and a beta of 0.04. Rain Oncology has a 52-week low of $1.05 and a 52-week high of $14.48. The stock has a fifty day simple moving average of $7.62 and a 200-day simple moving average of $8.12.

Rain Oncology (NASDAQ:RAIN – Get Rating) last released its quarterly earnings results on Thursday, May 11th. The company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.01. As a group, equities analysts anticipate that Rain Oncology will post -2.09 earnings per share for the current 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 dated Monday, May 22nd. The stock was sold at an average price of $1.25, for a total transaction of $1,243,750.00. Following the completion of the sale, the insider now owns 1,152,212 shares in the company, valued at approximately $1,440,265. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.90% of the company’s stock.

Hedge Funds Weigh In On Rain Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of RAIN. BlackRock Inc. lifted its position in Rain Oncology by 8.4% during the 1st quarter. BlackRock Inc. now owns 803,211 shares of the company’s stock worth $4,072,000 after acquiring an additional 62,340 shares in the last quarter. Vanguard Group Inc. lifted its position in Rain Oncology by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 521,033 shares of the company’s stock worth $2,641,000 after acquiring an additional 13,758 shares in the last quarter. Northern Trust Corp lifted its position in Rain Oncology by 69.0% during the 1st quarter. Northern Trust Corp now owns 121,824 shares of the company’s stock worth $618,000 after acquiring an additional 49,727 shares in the last quarter. State Street Corp lifted its position in Rain Oncology by 42.0% during the 1st quarter. State Street Corp now owns 191,801 shares of the company’s stock worth $972,000 after acquiring an additional 56,723 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted 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 worth $84,000 after acquiring an additional 6,617 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Rain Oncology Company Profile

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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.