United Services Automobile Association Reduces Stock Holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)

United Services Automobile Association decreased its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 35.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,095 shares of the company’s stock after selling 169,205 shares during the quarter. United Services Automobile Association owned about 0.62% of Rani Therapeutics worth $1,186,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Vanguard Group Inc. lifted its stake in Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after acquiring an additional 16,956 shares during the period. 30.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RANI. HC Wainwright decreased their price objective on Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating for the company in a report on Friday, August 16th. Rodman & Renshaw began coverage on Rani Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $10.00 price objective for the company. Maxim Group began coverage on Rani Therapeutics in a report on Friday, June 14th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Oppenheimer began coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $11.71.

Rani Therapeutics Price Performance

Shares of NASDAQ:RANI opened at $2.72 on Tuesday. Rani Therapeutics Holdings, Inc. has a 1-year low of $1.82 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93. The business has a fifty day moving average price of $3.04 and a 200-day moving average price of $4.08. The company has a market capitalization of $145.28 million, a PE ratio of -2.11 and a beta of 0.16.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, equities analysts expect that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.