Short Interest in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Decreases By 38.2%

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 64,000 shares, a drop of 38.2% from the August 31st total of 103,500 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is currently 0.0 days. Approximately 0.2% of the company’s shares are short sold.

Rani Therapeutics Stock Performance

Shares of NASDAQ:RANI opened at $0.51 on Friday. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $3.75. The business’s fifty day simple moving average is $0.52 and its 200-day simple moving average is $0.71. The company has a market capitalization of $36.29 million, a PE ratio of -0.55 and a beta of -0.02.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Research analysts predict that Rani Therapeutics will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at $1,619,000. Janney Montgomery Scott LLC increased its holdings in shares of Rani Therapeutics by 102.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after acquiring an additional 28,000 shares during the period. Well Done LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at $27,000. King Luther Capital Management Corp boosted its position in shares of Rani Therapeutics by 75.8% in the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock worth $73,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Rani Therapeutics by 16.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company’s stock worth $175,000 after purchasing an additional 19,536 shares in the last quarter. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RANI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research note on Saturday, September 27th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Three 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, the company presently has an average rating of “Moderate Buy” and an average target price of $7.33.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.