Rain Oncology Inc. (NASDAQ:RAIN) shares, rose in value on Wednesday, 05/24/23, remained unchanged to the previous day’s close as strong demand from buyers drove the stock to $1.24.
Actively observing the price movement in the last trading, the stock closed the session at $1.24, falling within a range of $1.17 and $1.25. Referring to stock’s 52-week performance, its high was $14.48, and the low was $1.11. On the whole, RAIN has fluctuated by -81.13% over the past month.
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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.51, which is expected to increase to -$0.26 for fiscal year -$2.02 and then to about -$1.54 by fiscal year 2024. Data indicates that the EPS growth is expected to be 25.50% in 2024, while the next year’s EPS growth is forecast to be 23.80%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that RAIN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
11 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 9 analyst(s), 2 recommend it as a Buy and 0 called the RAIN stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RAIN currently trading nearly -84.34% and -84.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 18.95, while the 7-day volatility ratio is showing 20.43% which for the 30-day chart, stands at 10.81%. Furthermore, Rain Oncology Inc. (RAIN)’s average true range (ATR) is 1.09. The company’s stock has been forecasted to trade at an average price of $10.93 over the course of the next 52 weeks, with a low of $1.50 and a high of $24.00. Based on these price targets, the low is -20.97% off current price, whereas the price has to move -1835.48% to reach the yearly target high. Additionally, analysts’ median price of $11.00 is likely to be welcomed by investors because it represents a decrease of -787.1% from the current levels.
A comparison of Rain Oncology Inc. (RAIN) with its peers suggests the former has fared considerably weaker in the market. RAIN showed an intraday change of 0.00% in last session, and over the past year, it shrunk by -52.31%%. In comparison, Johnson & Johnson (JNJ) has moved lower at -0.10% on the day and was down -12.70% over the past 12 months. On the other hand, the price of Merck & Co. Inc. (MRK) has risen 0.29% on the day. The stock, however, is off 21.07% from where it was a year ago. Additionally, there is a loss of -2.25% for AstraZeneca PLC (AZN) in last trading while the stock has seen an overall depriciation of 9.02%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Rain Oncology Inc. (NASDAQ:RAIN) indicates that the trading volumes over the past 10 days have averaged 4.81 million and over the past 3 months, they’ve averaged 868.83K. According to company’s latest data on outstanding shares, there are 36.34 million shares outstanding.
Nearly 6.00% of Rain Oncology Inc.’s shares belong to company insiders and institutional investors own 61.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.14 million shares as on Apr 27, 2023, resulting in a short ratio of 8.23. According to the data, the short interest in Rain Oncology Inc. (RAIN) stood at 3.13% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 0.91 million. The stock has fallen by -84.50% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RAIN stock heading into the next quarter.