Rani Therapeutics (NASDAQ:RANI) CEO Talat Imran Sells 8,014 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran sold 8,014 shares of Rani Therapeutics stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $1.41, for a total transaction of $11,299.74. Following the completion of the transaction, the chief executive officer directly owned 486,737 shares of the company’s stock, valued at approximately $686,299.17. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talat Imran also recently made the following trade(s):

• On Friday, July 17th, Talat Imran bought 35,000 shares of Rani Therapeutics stock. The shares were acquired at an average price of $0.72 per share, with a total value of $25,200.00.

Rani Therapeutics Trading Up 1.1%

RANI stock opened at $0.82 on Wednesday. Rani Therapeutics Holdings, Inc. has a 1-year low of $0.44 and a 1-year high of $3.87. The business’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $1.03. The firm has a market capitalization of $101.49 million, a PE ratio of -2.00 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 the consensus estimate of ($0.06) by $0.02. The company had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.12 million. As a group, sell-side analysts predict that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RANI. RA Capital Management L.P. acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $11,475,000. AWM Investment Company Inc. acquired a new position in Rani Therapeutics during the fourth quarter valued at approximately $8,775,000. SymBiosis Capital Partners LLC bought a new stake in Rani Therapeutics during the fourth quarter worth $8,505,000. Armistice Capital LLC bought a new stake in Rani Therapeutics during the second quarter worth $1,619,000. Finally, Siren L.L.C. acquired a new stake in shares of Rani Therapeutics in the 4th quarter valued at $2,700,000. 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.