Rain Oncology (NASDAQ:RAIN) Trading 2.7% Higher

Rain Oncology Inc. (NASDAQ:RAIN)’s stock price was up 2.7% during mid-day trading on Friday . The stock traded as high as $1.13 and last traded at $1.13. Approximately 75,462 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 642,508 shares. The stock had previously closed at $1.10.

Rain Oncology Price Performance

The business’s 50 day simple moving average is $0.96 and its 200 day simple moving average is $2.31. The stock has a market cap of $41.11 million, a P/E ratio of -0.44 and a beta of 0.22.

Rain Oncology (NASDAQ:RAIN) last posted its earnings results on Thursday, August 10th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.12). Research analysts predict that Rain Oncology Inc. will post -1.67 earnings per share for the current year.

Insider Buying and Selling at Rain Oncology

In other news, major shareholder Kevin C. Tang bought 131,631 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was acquired at an average price of $0.99 per share, for a total transaction of $130,314.69. Following the transaction, the insider now directly owns 4,024,486 shares of the company’s stock, valued at approximately $3,984,241.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rain Oncology news, major shareholder Kevin C. Tang acquired 74,812 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was purchased at an average price of $0.97 per share, for a total transaction of $72,567.64. Following the transaction, the insider now owns 3,815,153 shares in the company, valued at approximately $3,700,698.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Kevin C. Tang bought 131,631 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were acquired at an average price of $0.99 per share, for a total transaction of $130,314.69. Following the acquisition, the insider now directly owns 4,024,486 shares of the company’s stock, valued at approximately $3,984,241.14. The disclosure for this purchase can be found here. Company insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On Rain Oncology

Large investors have recently modified their holdings of the stock. BML Capital Management LLC bought a new position in Rain Oncology in the 2nd quarter worth approximately $88,000. Ghost Tree Capital LLC acquired a new position in shares of Rain Oncology during the first quarter valued at $2,185,000. Sectoral Asset Management Inc. boosted its holdings in Rain Oncology by 2,479.4% in the first quarter. Sectoral Asset Management Inc. now owns 484,928 shares of the company’s stock valued at $4,238,000 after acquiring an additional 466,128 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Rain Oncology in the first quarter worth about $495,000. Finally, GMT Capital Corp increased its position in Rain Oncology by 27.6% in the first quarter. GMT Capital Corp now owns 824,865 shares of the company’s stock worth $7,209,000 after purchasing an additional 178,607 shares during the period. 65.84% of the stock is currently owned by institutional investors and hedge funds.

About Rain Oncology

Rain Oncology Inc, a late-stage precision oncology company, engages in developing therapies that target oncogenic drivers to genetically select patients in the United States. The company's lead product candidate is milademetan, a small molecule oral inhibitor of MDM2-p53 complex that reactivates p53.