Citigroup Cuts Rain Oncology (NASDAQ:RAIN) Price Target to $24.00

Rain Oncology (NASDAQ:RAIN – Get Rating) had its target price reduced by Citigroup from $29.00 to $24.00 in a research report report published on Thursday morning, The Fly reports.

Several other brokerages also recently weighed in on RAIN. EF Hutton Acquisition Co. I reaffirmed a buy rating and set a $16.00 price target on shares of Rain Oncology in a research report on Friday, March 10th. Lifesci Capital reiterated an outperform rating on shares of Rain Oncology in a research report on Friday, January 6th. Mizuho decreased their price target on Rain Oncology from $18.00 to $17.00 and set a buy rating for the company in a report on Monday, March 13th. Roth Capital reaffirmed a buy rating and set a $21.00 price objective on shares of Rain Oncology in a research note on Tuesday, January 31st. Finally, HC Wainwright lifted their target price on shares of Rain Oncology from $12.00 to $19.00 and gave the company a buy rating in a report on Friday, March 10th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $17.63.

Rain Oncology Price Performance

RAIN opened at $7.84 on Thursday. Rain Oncology has a 12-month low of $2.15 and a 12-month high of $14.48. The firm has a 50 day moving average of $9.47 and a two-hundred day moving average of $7.44.

Rain Oncology (NASDAQ:RAIN – Get Rating) last released its quarterly earnings data on Thursday, March 9th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.09). As a group, sell-side analysts predict that Rain Oncology will post -2.14 earnings per share for the current year.

Institutional Trading of Rain Oncology

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new position in shares of Rain Oncology during the 2nd quarter valued at approximately $83,000. Goldman Sachs Group Inc. raised its position in Rain Oncology by 65.9% during the first quarter. Goldman Sachs Group Inc. now owns 16,655 shares of the company’s stock worth $84,000 after acquiring an additional 6,617 shares during the period. Credit Suisse AG lifted its holdings in Rain Oncology by 224,900.0% during the third quarter. Credit Suisse AG now owns 18,000 shares of the company’s stock valued at $88,000 after purchasing an additional 17,992 shares in the last quarter. Morgan Stanley grew its position in shares of Rain Oncology by 11.8% in the fourth quarter. Morgan Stanley now owns 12,287 shares of the company’s stock valued at $98,000 after purchasing an additional 1,300 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Rain Oncology during the fourth quarter worth about $105,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

About Rain Oncology

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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.