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Rain Oncology Inc. (NASDAQ: RAIN): Is It A Gold Mine Or A Disaster In The Making?

In the last trading session, 10.18 million shares of the Rain Oncology Inc. (NASDAQ:RAIN) were traded. Most recently the company’s share price was $1.24, and it changed around $0.02 or 1.64% from the last close, which brings the market valuation of the company to $44.32M. RAIN currently trades at a discount to its 52-week high of $14.48, offering almost -1067.74% off that amount. The share price’s 52-week low was $1.11, which indicates that the current value has risen by an impressive 10.48% since then. We note from Rain Oncology Inc.’s average daily trading volume that its 10-day average is 4.47 million shares, with the 3-month average coming to 705.46K.

Rain Oncology Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 1.60. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 9 recommended RAIN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Rain Oncology Inc. is expected to report earnings per share of -$0.55 for the current quarter.

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Rain Oncology Inc. (NASDAQ:RAIN) trade information

Instantly RAIN has showed a green trend with a performance of 1.64% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 10.5100 on Tuesday, 05/23/23 increased the stock’s daily price by 88.2%. The company’s shares are currently down -84.50% year-to-date, but still down -87.23% over the last five days. On the other hand, Rain Oncology Inc. (NASDAQ:RAIN) is -82.16% down in the 30-day period. We can see from the shorts that 1.14 million shares have been sold at a short interest cover period of 8.23 day(s).

The consensus price target as assigned by Wall Street analysts is $10.93, which translates to bulls needing to increase their stock price by 88.66% from its current value. Analyst projections state that RAIN is forecast to be at a low of $1.50 and a high of $24.00. In order for the stock price to hit the forecast high, the stock would need to plunge -1835.48% from its current level, while the stock would need to crash -20.97% from its current level to reach the projected low.

Rain Oncology Inc. (RAIN) estimates and forecasts

Rain Oncology Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -81.76 percent over the past six months and at a 22.88% annual growth rate that is well above the industry average of 11.20%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 16.70% in revenue this quarter, and will report an increase of 23.50% in the next quarter.

RAIN Dividends

Rain Oncology Inc.’s next quarterly earnings report is expected to be released around August 02 and August 07.

Rain Oncology Inc. (NASDAQ:RAIN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 15.24% of Rain Oncology Inc. shares, and 86.90% of them are in the hands of institutional investors. The stock currently has a share float of 102.53%. Rain Oncology Inc. stock is held by 70 institutions, with BVF Inc. being the largest institutional investor. By Mar 30, 2023, it held 13.30% of the shares, which is about 3.53 million shares worth $30.82 million.

Cormorant Asset Management, LP, with 11.23% or 2.98 million shares worth $26.03 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Fidelity Select Portfolios – Biotechnology and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 0.35 million shares worth $3.12 million, making up 0.96% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 0.33 million shares worth around $2.67 million, which represents about 0.92% of the total shares outstanding.

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