Talat Imran Acquires 35,000 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran purchased 35,000 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were acquired at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the chief executive officer directly owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. This represents a 8.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rani Therapeutics Stock Performance

Shares of RANI stock traded up $0.01 on Tuesday, hitting $0.82. 170,538 shares of the company’s stock traded hands, compared to its average volume of 1,047,185. Rani Therapeutics Holdings, Inc. has a one year low of $0.44 and a one year high of $3.87. The company’s fifty day simple moving average is $0.81 and its 200 day simple moving average is $1.03. The stock has a market capitalization of $101.95 million, a price-to-earnings ratio of -2.00 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.12 million. As a group, sell-side analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rani Therapeutics

Hedge funds have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in shares of Rani Therapeutics during the second quarter valued at approximately $1,619,000. Geode Capital Management LLC increased its position in Rani Therapeutics by 190.0% during the 4th quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock valued at $1,163,000 after purchasing an additional 564,031 shares during the period. 683 Capital Management LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at $658,000. Squarepoint Ops LLC bought a new position in Rani Therapeutics in the 4th quarter worth $465,000. Finally, Citadel Advisors LLC boosted its stake in shares of Rani Therapeutics by 199.0% during the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after purchasing an additional 301,193 shares in the last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $5.00 target price on shares of Rani Therapeutics in a 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. Lake Street Capital initiated coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rani Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

About Rani Therapeutics

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.