Rani Therapeutics (NASDAQ:RANI) Director Mir Imran Purchases 36,000 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran purchased 36,000 shares of Rani Therapeutics stock in a transaction dated Tuesday, July 21st. The stock was bought at an average cost of $0.69 per share, with a total value of $24,840.00. Following the completion of the transaction, the director owned 2,119,334 shares in the company, valued at approximately $1,462,340.46. This represents a 1.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Rani Therapeutics Price Performance

Shares of 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 stock’s 50-day moving average is $0.81 and its 200 day moving average is $1.03. The company has a market cap of $101.49 million, a P/E ratio of -2.00 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.12 million. On average, analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RANI. Weiss Ratings lowered shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Canaccord Genuity Group restated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Lake Street Capital began coverage on shares of Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price target on the stock. Finally, Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rani Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $8.75.

Institutional Investors Weigh In On Rani Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new stake in shares of Rani Therapeutics during the fourth quarter worth about $11,475,000. AWM Investment Company Inc. acquired a new position in shares of Rani Therapeutics during the fourth quarter valued at about $8,775,000. SymBiosis Capital Partners LLC acquired a new position in shares of Rani Therapeutics during the fourth quarter valued at about $8,505,000. Armistice Capital LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at approximately $1,619,000. Finally, Siren L.L.C. purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $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.