Rani Therapeutics (NASDAQ:RANI) Now Covered by Chardan Capital

Analysts at Chardan Capital assumed coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a report released on Tuesday,Benzinga reports. The brokerage set a “buy” rating on the stock.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen upgraded 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. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Rani Therapeutics Trading Down 0.0%

NASDAQ:RANI opened at $0.80 on Tuesday. The company has a 50-day moving average price of $0.77 and a 200-day moving average price of $0.97. The stock has a market cap of $98.60 million, a price-to-earnings ratio of -2.95 and a beta of 0.78. Rani Therapeutics has a 12 month low of $0.44 and a 12 month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.71 million during the quarter, compared to the consensus estimate of $0.93 million. Equities analysts forecast that Rani Therapeutics will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rani Therapeutics news, CEO Talat Imran bought 35,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was acquired at an average price of $0.72 per share, with a total value of $25,200.00. Following the completion of the purchase, the chief executive officer owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. This trade represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 26.73% of the company’s stock.

Institutional Trading of Rani Therapeutics

A number of hedge funds have recently made changes to their positions in RANI. Stonepine Capital Management LLC purchased a new stake in shares of Rani Therapeutics in the 2nd quarter worth approximately $2,670,190,000. Almitas Capital LLC bought a new position in Rani Therapeutics during the 2nd quarter valued at approximately $7,111,000. Seven Fleet Capital Management LP purchased a new position in Rani Therapeutics during the second quarter valued at $1,011,299,000. Bank of America Corp DE purchased a new position in Rani Therapeutics during the second quarter valued at $706,000. Finally, AWM Investment Company Inc. bought a new stake in Rani Therapeutics in the second quarter worth $5,703,000. 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.