Rain Oncology Inc. (NASDAQ:RAIN) Short Interest Down 20.2% in August

Rain Oncology Inc. (NASDAQ:RAIN) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 861,800 shares, a decline of 20.2% from the August 15th total of 1,080,000 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 472,700 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Oppenheimer cut Rain Oncology from an “outperform” rating to a “market perform” rating in a report on Monday, May 22nd. Lifesci Capital lowered shares of Rain Oncology from an “outperform” rating to a “market perform” rating in a report on Monday, May 22nd. Citigroup downgraded shares of Rain Oncology from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 23rd. SVB Leerink cut shares of Rain Oncology from an “outperform” rating to a “market perform” rating in a research note on Monday, May 22nd. Finally, Guggenheim lowered shares of Rain Oncology from a “buy” rating to a “neutral” rating in a research note on Monday, May 22nd. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $17.00.

Institutional Trading of Rain Oncology

Several institutional investors have recently added to or reduced their stakes in RAIN. Samsara BioCapital LLC grew its stake in shares of Rain Oncology by 44.9% in the fourth quarter. Samsara BioCapital LLC now owns 2,260,652 shares of the company’s stock valued at $18,085,000 after buying an additional 700,000 shares in the last quarter. Boxer Capital LLC increased its stake in Rain Oncology by 82.7% during the fourth quarter. Boxer Capital LLC now owns 2,147,212 shares of the company’s stock worth $17,178,000 after purchasing an additional 972,212 shares during the period. BlackRock Inc. lifted its position in shares of Rain Oncology by 1,246.5% during the second quarter. BlackRock Inc. now owns 1,016,530 shares of the company’s stock worth $1,220,000 after purchasing an additional 941,037 shares in the last quarter. GMT Capital Corp boosted its stake in shares of Rain Oncology by 27.6% in the first quarter. GMT Capital Corp now owns 824,865 shares of the company’s stock valued at $7,209,000 after purchasing an additional 178,607 shares during the period. Finally, Acadian Asset Management LLC increased its stake in Rain Oncology by 23,634.7% during the 2nd quarter. Acadian Asset Management LLC now owns 659,349 shares of the company’s stock worth $790,000 after buying an additional 656,571 shares during the period. Institutional investors and hedge funds own 65.84% of the company’s stock.

Rain Oncology Stock Down 7.7 %

NASDAQ:RAIN traded down $0.07 on Friday, reaching $0.82. The company’s stock had a trading volume of 339,419 shares, compared to its average volume of 148,268. Rain Oncology has a 12-month low of $0.82 and a 12-month high of $14.48. The stock has a 50 day moving average price of $1.14 and a 200 day moving average price of $4.07. The firm has a market cap of $29.90 million, a price-to-earnings ratio of -0.32 and a beta of 0.21.

Rain Oncology (NASDAQ:RAIN) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.12). Equities research analysts expect that Rain Oncology will post -1.67 EPS for the current fiscal year.

Rain Oncology Company Profile

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.