Deerfield Management Co. LP recently announced the acquisition of new stake in Rain Therapeutics Inc. (NASDAQ:RAIN). This fresh investment now brings its stake to 9.26% valued currently at $17.73 million. In addition, Janus Henderson Investors US LLC raised its holdings by 76449.0 to 0.81 million shares. And Fidelity Management & Research Co has lifted its position by 47.60% or 0.12 million shares – to 0.38 million shares.
With over 0.94 million Rain Therapeutics Inc. (RAIN) shares trading Tuesday and a closing price of $12.47 on the day, the dollar volume was approximately $11.76 million. The shares have shown a positive half year performance of 150.91% and its price on 01/10/23 gained nearly 7.41%. Currently, there are 26.57M common shares owned by the public and among those 24.62M shares have been available to trade.
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Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 1,245,069 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 59,618 shares.
The top 3 mutual fund holders in Rain Therapeutics Inc. are FCP Medical – BioHealth, Vanguard Total Stock Market Index, and Stichting Pensioenfonds ABP. FCP Medical – BioHealth owns 0.56 million shares of the company’s stock, all valued at over $4.3 million. Stichting Pensioenfonds ABP bought 32466.0 shares to bring its total holdings to over 0.26 million shares at a value of $2.04 million. Stichting Pensioenfonds ABP now owns shares totaling to 1.07% of the shares outstanding.
However, the script later moved the day high at 14.40, up 7.41%. The company’s stock has a 5-day price change of 55.88% and 160.88% over the past three months. RAIN shares are trading 55.88% year to date (YTD), with the 12-month market performance up to 3.83% higher. It has a 12-month low price of $2.15 and touched a high of $13.22 over the same period. RAIN has an average intraday trading volume of 85.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 64.67%, 76.50%, and 128.88% respectively.
Institutional ownership of Rain Therapeutics Inc. (NASDAQ: RAIN) shares accounts for 61.80% of the company’s 26.57M shares outstanding. Mutual fund holders own 51.31%, while other institutional holders and individual stakeholders account for 8.18% and 41.69% respectively.
It has a market capitalization of $396.17M. The earnings-per-share (ttm) stands at -$2.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.85% over the week and 12.57% over the month.
Analysts forecast that Rain Therapeutics Inc. (RAIN) will achieve an EPS of -$0.68 for the current quarter, -$0.65 for the next quarter and -$2.33 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.73 while analysts give the company a high EPS estimate of -$0.65. Comparatively, EPS for the current quarter was -$0.7 a year ago. Earnings per share for the fiscal year are expected to decrease by -226.20%, and 23.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Rain Therapeutics Inc. (RAIN) as a “Strong Buy” at a consensus score of 1.60. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RAIN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on September 12, 2022, with the firm’s price target at $10. Oppenheimer coverage for the Rain Therapeutics Inc. (RAIN) stock in a research note released on April 01, 2022 offered a Outperform rating with a price target of $15. Goldman was of a view on September 14, 2021 that the stock is Neutral, while Piper Sandler gave the stock Overweight rating on July 20, 2021, issuing a price target of $25. Piper Sandler on their part issued Overweight rating on May 18, 2021.
