Rani Therapeutics (NASDAQ:RANI) Stock Price Down 2.3% – Time to Sell?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) traded down 2.3% during mid-day trading on Wednesday . The company traded as low as $0.66 and last traded at $0.6930. 631,483 shares were traded during trading, an increase of 7% from the average session volume of 589,407 shares. The stock had previously closed at $0.7093.

Analyst Ratings Changes

A number of research firms have recently commented on RANI. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a report on Friday, March 27th. Lake Street Capital initiated coverage on shares of 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, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rani Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $8.75.

Rani Therapeutics Stock Down 1.6%

The business has a 50-day moving average price of $0.87 and a 200-day moving average price of $1.09. The company has a market capitalization of $85.13 million, a price-to-earnings ratio of -1.68 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.12 million. As a group, sell-side analysts predict that Rani Therapeutics Holdings, Inc. will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Rani Therapeutics

A number of large investors have recently made changes to their positions in RANI. Kestra Private Wealth Services LLC boosted 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 worth $195,000 after purchasing an additional 10,347 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at $40,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter worth $69,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rani Therapeutics in the fourth quarter worth $93,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Rani Therapeutics during the fourth quarter valued at $105,000. Institutional investors and hedge funds 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.