Rain Therapeutics (NASDAQ:RAIN) Releases Earnings Results, Beats Estimates By $0.02 EPS

Rain Therapeutics (NASDAQ:RAIN – Get Rating) issued its earnings results on Wednesday. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02, MarketWatch Earnings reports. During the same period in the previous year, the firm earned ($1.93) EPS.

Shares of Rain Therapeutics stock traded up $0.03 during trading on Friday, hitting $2.91. The stock had a trading volume of 60,607 shares, compared to its average volume of 84,610. Rain Therapeutics has a 12 month low of $2.72 and a 12 month high of $22.22. The firm’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $9.68. The stock has a market cap of $77.14 million and a PE ratio of -1.20.

Several equities research analysts recently weighed in on RAIN shares. Zacks Investment Research upgraded Rain Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 12th. Oppenheimer initiated coverage on Rain Therapeutics in a research report on Thursday, March 31st. They issued an “outperform” rating and a $15.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $22.20.

Institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in Rain Therapeutics by 539.7% in the 4th quarter. Citigroup Inc. now owns 5,572 shares of the company’s stock worth $72,000 after purchasing an additional 4,701 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in Rain Therapeutics in the 4th quarter worth $98,000. California State Teachers Retirement System increased its holdings in Rain Therapeutics by 88.6% in the 4th quarter. California State Teachers Retirement System now owns 8,719 shares of the company’s stock worth $112,000 after acquiring an additional 4,096 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Rain Therapeutics by 122.4% in the fourth quarter. Deutsche Bank AG now owns 9,669 shares of the company’s stock valued at $125,000 after purchasing an additional 5,321 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Rain Therapeutics in the fourth quarter valued at about $129,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

About Rain Therapeutics (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.

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