Adage Capital Management LP has recently announced that it has increased stake in Rain Oncology Inc. (NASDAQ:RAIN) by 215.36%. After grabbing 2.12 million shares, the institutional investor is now in possession of 1.45 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.01% having worth around $14.93 million. Moreover, Janus Henderson Investors US LLC increased its share by 53216.0 to have a control over 1.34 million shares. And The Vanguard Group, Inc. raised its holdings to 0.42 million shares by acquiring 0.87 million shares or 3.29% of the stake.
Rain Oncology Inc. (RAIN) concluded trading on 05/25/23 at a closing price of $1.14, with 4.97 million shares of worth about $5.67 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -86.56% during that period and on Thursday the price saw a loss of about -8.06%. Currently the company’s common shares owned by public are about 36.34M shares, out of which, 14.90M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the RAIN stock and their offered price forecasts bring an average price target of $10.93. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $24.00 and could fall to a lowest price of $1.50. The stock’s current price level is 93.73% above of average price target set by the analysts, while a rise to estimated low would result in gain of 24.0% for the stock. However, touching the estimated high of $24.00 would mean a gain of 95.25% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 6 times over the past 12 months. They bought 1,165,983 shares in 6 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
FCP Medical – BioHealth, Vanguard Total Stock Market ETF, and Fidelity Select Port. – Biotechno are the top 3 mutual funds which are holding stakes in Rain Oncology Inc. FCP Medical – BioHealth is currently holding 0.56 million shares of worth totaling $3.91 million. The company recently came buying 0.0 shares which brought its stake up to 2.10% of the company’s outstanding shares. Fidelity Select Port. – Biotechno, after buying 0.35 million shares, have now control over 1.32% of the stake in the company. It holds 0.0 shares of worth $2.45 million.
Rain Oncology Inc. (NASDAQ: RAIN) started trading at $1.21, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 1.2185, or with a loss of -8.06%. Stock saw a price change of -88.32% in past 5 days and over the past one month there was a price change of -83.45%. Year-to-date (YTD), RAIN shares are showing a performance of -85.75% which decreased to -50.00% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.11 but also hit the highest price of $14.48 during that period. The average intraday trading volume for Rain Oncology Inc. shares is 923.51K. The stock is currently trading -85.07% below its 20-day simple moving average (SMA20), while that difference is down -85.31% for SMA50 and it goes to -84.69% lower than SMA200.
Adage Capital Management LP acquired 2.12 million shares of Rain Oncology Inc. having value of about $14.93 million. Data submitted at the U.S SEC by Adage Capital Management LP revealed that the firm now holds 1.45 million shares in the company valued at close to $1653000.0, or have control over 215.36% stake in the company. Rain Oncology Inc. (NASDAQ: RAIN) currently have 36.34M outstanding shares and institutions hold larger chunk of about 61.80% of that. Holding of mutual funds in the company is about 55.76% while other institutional holders and individual stake holders have control over 9.61% and 37.40% of the stake respectively.
The stock has a current market capitalization of $40.74M. It has posted earnings per share of -$2.61 in the same period. It has Quick Ratio of 5.80 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RAIN, volatility over the week remained 21.99% while standing at 11.12% over the month.
Analysts are in expectations that Rain Oncology Inc. (RAIN) stock would likely to be making an EPS of -$0.53 in the current quarter, while forecast for next quarter EPS is -$0.48 and it is -$1.54 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.6 which is -$0.4 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.66 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -2.20% while it is estimated to increase by 7.90% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Rain Oncology Inc. (RAIN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.60. Out of those 11 Wall Street analysts, 2 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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