Rani Therapeutics (NASDAQ:RANI) Director Buys $24,840.00 in Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran bought 36,000 shares of the stock in a transaction on Tuesday, July 21st. The stock was purchased at an average cost of $0.69 per share, for a total transaction of $24,840.00. Following the acquisition, the director directly owned 2,119,334 shares of the company’s stock, valued at $1,462,340.46. The trade was a 1.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rani Therapeutics Stock Down 2.8%

Shares of RANI stock opened at $0.82 on Friday. The stock has a market cap of $101.62 million, a P/E ratio of -2.00 and a beta of 0.78. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.87. The business has a fifty day simple moving average of $0.80 and a 200-day simple moving average of $1.02.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $1.12 million. On average, sell-side analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RANI. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a report on Wednesday, May 20th. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Lake Street Capital started coverage on Rani Therapeutics in a research report on Tuesday, April 14th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Rani Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $8.75.

Institutional Trading of Rani Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC raised its stake in Rani Therapeutics by 4.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock valued at $195,000 after purchasing an additional 10,347 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth about $69,000. Millennium Management LLC acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth about $220,000. Bridgeway Capital Management LLC purchased a new stake in shares of Rani Therapeutics during the fourth quarter worth about $155,000. Finally, 683 Capital Management LLC purchased a new stake in shares of Rani Therapeutics during the fourth quarter worth about $658,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company 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.