Rain Therapeutics (NASDAQ:RAIN) PT Lowered to $29.00

Rain Therapeutics (NASDAQ:RAINGet Rating) had its target price lowered by research analysts at Citigroup from $30.00 to $29.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 262.50% from the company’s current price.

Separately, HC Wainwright raised their price objective on Rain Therapeutics from $10.00 to $12.00 in a research note on Friday, November 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rain Therapeutics presently has an average rating of “Buy” and a consensus target price of $17.29.

Rain Therapeutics Trading Down 5.7 %

NASDAQ:RAIN opened at $8.00 on Wednesday. The stock has a 50-day moving average price of $5.78 and a 200 day moving average price of $5.17. Rain Therapeutics has a 12-month low of $2.15 and a 12-month high of $14.90. The stock has a market capitalization of $212.56 million, a P/E ratio of -2.99 and a beta of -0.33.

Rain Therapeutics (NASDAQ:RAINGet Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.01. On average, research analysts predict that Rain Therapeutics will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rain Therapeutics news, Director Aaron I. Davis purchased 972,212 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average cost of $5.83 per share, with a total value of $5,667,995.96. Following the purchase, the director now owns 2,147,212 shares of the company’s stock, valued at $12,518,245.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Aaron I. Davis purchased 972,212 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were acquired at an average cost of $5.83 per share, for a total transaction of $5,667,995.96. Following the acquisition, the director now owns 2,147,212 shares of the company’s stock, valued at approximately $12,518,245.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Franklin M. Berger purchased 45,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was bought at an average price of $7.80 per share, for a total transaction of $351,000.00. Following the completion of the acquisition, the director now directly owns 928,207 shares in the company, valued at approximately $7,240,014.60. The disclosure for this purchase can be found here. In the last three months, insiders acquired 2,727,570 shares of company stock valued at $15,990,383. Insiders own 21.90% of the company’s stock.

Institutional Trading of Rain Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in Rain Therapeutics during the 3rd quarter worth about $110,000. Citadel Advisors LLC lifted its holdings in shares of Rain Therapeutics by 549.0% in the 3rd quarter. Citadel Advisors LLC now owns 67,250 shares of the company’s stock valued at $328,000 after buying an additional 56,888 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Rain Therapeutics by 46.7% in the 3rd quarter. Renaissance Technologies LLC now owns 22,000 shares of the company’s stock valued at $107,000 after buying an additional 7,000 shares during the period. Credit Suisse AG lifted its holdings in shares of Rain Therapeutics 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 buying an additional 17,992 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Rain Therapeutics by 79.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 28,401 shares of the company’s stock valued at $158,000 after buying an additional 12,616 shares during the period. Institutional investors and hedge funds own 52.77% of the company’s stock.

About Rain Therapeutics

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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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