Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Major Shareholder Sells $10,147,804.00 in Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the transaction, the insider now owns 8,302,194 shares in the company, valued at $22,000,814.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rani Therapeutics Trading Up 1.2 %

Rani Therapeutics stock opened at $2.63 on Friday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.93 and a current ratio of 1.93. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $1.82 and a fifty-two week high of $8.75. The firm’s fifty day moving average price is $2.56 and its 200-day moving average price is $3.86.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. Equities research analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Rani Therapeutics

A hedge fund recently bought a new stake in Rani Therapeutics stock. Marshall Wace LLP bought a new position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,247 shares of the company’s stock, valued at approximately $81,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Wall Street Analyst Weigh In

RANI has been the subject of several research reports. Oppenheimer initiated coverage on Rani Therapeutics in a research note on Friday, August 2nd. They issued an “outperform” rating and a $17.00 target price for the company. HC Wainwright dropped their price target on shares of Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Buy” and a consensus target price of $11.71.

About Rani Therapeutics

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.