Mir Imran Acquires 36,000 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran bought 36,000 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were purchased at an average cost of $0.69 per share, with a total value of $24,840.00. Following the completion of the transaction, the director owned 2,119,334 shares in the company, valued at $1,462,340.46. This represents a 1.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rani Therapeutics Trading Up 3.0%

RANI opened at $0.84 on Thursday. Rani Therapeutics Holdings, Inc. has a 12-month low of $0.44 and a 12-month high of $3.87. The business’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $1.02. The company has a market capitalization of $104.54 million, a price-to-earnings ratio of -2.06 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $1.12 million. On average, equities research analysts predict that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Rani Therapeutics

Hedge funds have recently modified their holdings of the company. Jefferies Financial Group Inc. bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $40,000. Virtu Financial LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter worth approximately $69,000. OMERS ADMINISTRATION Corp bought a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $93,000. Farallon Capital Management LLC bought a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $105,000. Finally, Kestra Private Wealth Services LLC lifted its position in Rani Therapeutics by 44.8% during the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after acquiring an additional 70,002 shares during the last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Lake Street Capital initiated coverage on shares of Rani Therapeutics in a research report on Tuesday, April 14th. They set a “buy” rating and a $9.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rani Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

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.