Rani Therapeutics (NASDAQ:RANI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Rani Therapeutics (NASDAQ:RANI) posted its quarterly earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $1.13 million.

Rani Therapeutics Stock Down 2.7%

Shares of NASDAQ:RANI traded down $0.03 during trading on Friday, reaching $1.08. The stock had a trading volume of 990,425 shares, compared to its average volume of 1,073,515. Rani Therapeutics has a 52 week low of $0.39 and a 52 week high of $3.87. The firm has a market capitalization of $133.59 million, a price-to-earnings ratio of -1.83 and a beta of 0.74. The stock has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $1.34.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RANI shares. Canaccord Genuity Group cut their price objective on shares of Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Friday, March 27th. Lake Street Capital started coverage on shares of Rani Therapeutics in a research report on Tuesday, April 14th. They set a “buy” rating and a $9.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Rani Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.80.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in Rani Therapeutics during the fourth quarter worth $69,000. Millennium Management LLC bought a new position in Rani Therapeutics during the fourth quarter worth $220,000. Bridgeway Capital Management LLC bought a new position in Rani Therapeutics during the fourth quarter worth $155,000. 683 Capital Management LLC bought a new position in Rani Therapeutics during the fourth quarter worth $658,000. Finally, RA Capital Management L.P. bought a new position in Rani Therapeutics during the fourth quarter worth $11,475,000. Institutional investors 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.