If you know they've sent rejections, it means you're application is indeed still under consideration and you're quite possibly a filler for the incoming class depending how many people initially accept their seats. you're not out of the race, but you're not head of the pack. this is both a good and a bad thing, good because you havn't been denied, bad because you're stuck in limbo. I know for a fact one of the schools I applied for has sent acceptances and rejections, but I have not heard anything which means I'm still under consideration.
hope that helped