Rani Therapeutics (NASDAQ:RANI) Issues Earnings Results

Rani Therapeutics (NASDAQ:RANI) posted its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million.

Rani Therapeutics Stock Performance

RANI stock opened at $0.80 on Friday. The company has a market capitalization of $98.84 million, a P/E ratio of -1.95 and a beta of 0.78. The company has a fifty day moving average price of $0.77 and a 200-day moving average price of $0.98. Rani Therapeutics has a 52-week low of $0.44 and a 52-week high of $3.87.

Insider Buying and Selling at Rani Therapeutics

In related news, CEO Talat Imran acquired 35,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was acquired at an average cost of $0.72 per share, for a total transaction 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. This trade represents a 8.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 26.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $11,475,000. AWM Investment Company Inc. bought a new position in shares of Rani Therapeutics during the fourth quarter worth about $8,775,000. SymBiosis Capital Partners LLC acquired a new position in shares of Rani Therapeutics in the fourth quarter worth approximately $8,505,000. Armistice Capital LLC acquired a new position in shares of Rani Therapeutics in the second quarter worth approximately $1,619,000. Finally, Siren L.L.C. bought a new stake in Rani Therapeutics in the fourth quarter valued at approximately $2,700,000. 30.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RANI shares. Weiss Ratings downgraded Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research report on Wednesday, May 20th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.75.

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.