Rani Therapeutics (NASDAQ:RANI) Announces Earnings Results, Beats Estimates By $0.02 EPS

Rani Therapeutics (NASDAQ:RANI) announced its earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.13 million.

Rani Therapeutics Trading Down 2.7%

NASDAQ RANI traded down $0.03 on Friday, hitting $1.08. 990,425 shares of the company were exchanged, compared to its average volume of 1,073,515. The firm has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.34. The company has a market cap of $133.59 million, a P/E ratio of -1.83 and a beta of 0.74. Rani Therapeutics has a 1-year low of $0.39 and a 1-year high of $3.87.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Rani Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Friday, March 27th. Lake Street Capital assumed coverage on shares of Rani Therapeutics in a research report on Tuesday, April 14th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Canaccord Genuity Group reduced their price target on shares of Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

Institutional Trading of Rani Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in Rani Therapeutics during the 4th quarter worth about $11,475,000. AWM Investment Company Inc. bought a new stake in Rani Therapeutics during the 4th quarter worth about $8,775,000. SymBiosis Capital Partners LLC bought a new stake in Rani Therapeutics during the 4th quarter worth about $8,505,000. 683 Capital Management LLC bought a new stake in Rani Therapeutics during the 4th quarter worth about $658,000. Finally, State Street Corp raised its holdings in Rani Therapeutics by 519.8% during the 4th quarter. State Street Corp now owns 387,042 shares of the company’s stock worth $523,000 after purchasing an additional 324,600 shares during the last quarter. 30.19% of the stock is owned by institutional investors.

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.