Short Interest in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Decreases By 73.4%

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 260,500 shares, adropof73.4% from the July 31st total of 980,000 shares. Currently,0.8% of the shares of the stock are sold short. Based on an average trading volume of 1,780,000 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 1,780,000 shares, the days-to-cover ratio is currently 0.1 days. Currently,0.8% of the shares of the stock are sold short.

Rani Therapeutics Stock Performance

RANI traded up $0.03 during midday trading on Wednesday, reaching $0.50. The company had a trading volume of 97,867 shares, compared to its average volume of 1,149,402. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 2.75. The business has a 50-day moving average of $0.53 and a two-hundred day moving average of $0.88. The company has a market cap of $35.72 million, a P/E ratio of -0.55 and a beta of -0.02. Rani Therapeutics has a 1 year low of $0.39 and a 1 year high of $3.75.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Thursday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. As a group, equities research analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors have recently modified their holdings of the stock. Armistice Capital LLC bought a new stake in shares of Rani Therapeutics during the 2nd quarter worth approximately $1,619,000. Two Sigma Investments LP purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $399,000. Two Sigma Advisers LP purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $151,000. CWA Asset Management Group LLC acquired a new stake in shares of Rani Therapeutics in the 1st quarter worth $105,000. Finally, Well Done LLC acquired a new stake in shares of Rani Therapeutics in the 2nd quarter worth $27,000. 30.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RANI shares. Oppenheimer decreased their price target on Rani Therapeutics from $14.00 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Rani Therapeutics has a consensus rating of “Buy” and an average target price of $7.33.

About Rani Therapeutics

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.