You can even live comfortably with 33% 'in the groove', less if you have to. I would try to salvage this project.
Measure over the barrel and wood, then compare that to the barrel thickness. The leftover is your remaining wood. You'll need 1/8 MIN for a web between bbl and rod, and then 1/8 MIN for a rr channel. That's 1/4", which is absolute minimum, scary thin. (calculations are for a 3/8 rod) Any more than that, consider yourself a lucky man.
If you have less than that, make a half stock, and use a wooden rib. That can be a sweet look.
You must realize, for (almost) every gun problem, there is a fix. So first establish where you are, then you can decide what your options are.