Spruce Street Capital LP Purchases New Position in Rani Therapeutics Holdings, Inc. $RANI

Spruce Street Capital LP purchased a new stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) in the second quarter, HoldingsChannel reports. The institutional investor purchased 1,661,073 shares of the company’s stock, valued at approximately $8,039,593,000. Rani Therapeutics comprises about 1.6% of Spruce Street Capital LP’s holdings, making the stock its 19th biggest holding.

Other large investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased its position in shares of Rani Therapeutics by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after purchasing an additional 10,347 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Rani Therapeutics in the 2nd quarter valued at about $125,000. Jefferies Financial Group Inc. acquired a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $40,000. Virtu Financial LLC purchased a new position in Rani Therapeutics during the 4th quarter worth approximately $69,000. Finally, Bank of New York Mellon Corp purchased a new position in Rani Therapeutics during the 2nd quarter worth approximately $328,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Insider Activity

In related news, CEO Talat Imran bought 35,000 shares of the company’s stock in a transaction dated Friday, July 17th. The shares were acquired at an average price of $0.72 per share, with a total value of $25,200.00. Following the completion of the acquisition, the chief executive officer owned 469,736 shares in the company, valued at approximately $338,209.92. This trade represents a 8.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.73% of the company’s stock.

Rani Therapeutics Stock Down 0.1%

NASDAQ RANI opened at $0.88 on Tuesday. The firm has a market cap of $108.89 million, a P/E ratio of -3.26 and a beta of 0.78. Rani Therapeutics Holdings, Inc. has a 52-week low of $0.44 and a 52-week high of $3.87. The business’s 50-day moving average price is $0.78 and its 200 day moving average price is $0.95.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $0.93 million. As a group, analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a research report on Friday. Chardan Capital initiated coverage on shares of Rani Therapeutics in a research report on Tuesday, August 18th. They set a “buy” rating on the stock. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Rani Therapeutics Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.