Rani Therapeutics (NASDAQ:RANI) Research Coverage Started at Chardan Capital

Chardan Capital started coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

A number of other research firms have also weighed in on RANI. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rani Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Rani Therapeutics Stock Performance

Shares of RANI opened at $0.85 on Tuesday. Rani Therapeutics has a fifty-two week low of $0.44 and a fifty-two week high of $3.87. The firm’s 50-day simple moving average is $0.77 and its two-hundred day simple moving average is $0.96. The stock has a market cap of $105.42 million, a PE ratio of -3.15 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $0.93 million. Equities research analysts predict that Rani Therapeutics will post -0.17 EPS for the current year.

Insider Activity

In other news, CEO Talat Imran acquired 35,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The stock was bought 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 directly owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. The trade was a 8.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC purchased a new position in Rani Therapeutics in the second quarter worth about $2,670,190,000. Almitas Capital LLC purchased a new stake in shares of Rani Therapeutics during the 2nd quarter valued at about $7,111,000. Seven Fleet Capital Management LP purchased a new stake in shares of Rani Therapeutics during the 2nd quarter valued at about $1,011,299,000. Bank of America Corp DE bought a new position in shares of Rani Therapeutics in the 2nd quarter worth approximately $706,000. Finally, AWM Investment Company Inc. bought a new position in shares of Rani Therapeutics in the 2nd quarter worth approximately $5,703,000. Institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

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.