Rain Oncology (NASDAQ:RAIN) Downgraded by Guggenheim to Neutral

Guggenheim lowered shares of Rain Oncology (NASDAQ:RAINGet Rating) from a buy rating to a neutral rating in a report issued on Monday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. SVB Securities assumed coverage on shares of Rain Oncology in a research report on Tuesday, March 21st. They issued an outperform rating and a $11.00 target price for the company. HC Wainwright boosted their target price on shares of Rain Oncology from $12.00 to $19.00 and gave the company a buy rating in a research report on Friday, March 10th. SVB Leerink restated an outperform rating and issued a $11.00 target price on shares of Rain Oncology in a research report on Tuesday, March 21st. Roth Capital restated a buy rating and issued a $21.00 target price on shares of Rain Oncology in a research report on Tuesday, January 31st. Finally, Citigroup dropped their target price on shares of Rain Oncology from $29.00 to $24.00 in a research report on Thursday, March 16th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $16.44.

Rain Oncology Stock Performance

NASDAQ:RAIN opened at $1.22 on Monday. Rain Oncology has a 52 week low of $1.11 and a 52 week high of $14.48. The firm has a market cap of $44.36 million, a price-to-earnings ratio of -0.47 and a beta of 0.04. The firm’s 50-day simple moving average is $8.04 and its 200 day simple moving average is $8.26.

Rain Oncology (NASDAQ:RAINGet Rating) last released its quarterly earnings results on Thursday, March 9th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.09). Sell-side analysts anticipate that Rain Oncology will post -2.09 EPS for the current year.

Institutional Investors Weigh In On Rain Oncology

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Rain Oncology during the 2nd quarter worth approximately $83,000. Goldman Sachs Group Inc. boosted its stake in shares of Rain Oncology by 65.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,655 shares of the company’s stock valued at $84,000 after purchasing an additional 6,617 shares during the last quarter. Credit Suisse AG boosted its stake in shares of Rain Oncology by 224,900.0% in the 3rd quarter. Credit Suisse AG now owns 18,000 shares of the company’s stock valued at $88,000 after purchasing an additional 17,992 shares during the last quarter. Morgan Stanley boosted its stake in shares of Rain Oncology by 11.8% in the 4th quarter. Morgan Stanley now owns 12,287 shares of the company’s stock valued at $98,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Rain Oncology in the 1st quarter valued at $99,000. 82.91% of the stock is owned by institutional investors.

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.

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