Rani Therapeutics (NASDAQ:RANI) Announces Earnings Results, Beats Estimates By $0.01 EPS

Rani Therapeutics (NASDAQ:RANI) issued its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock traded down $0.00 on Thursday, hitting $0.80. The company had a trading volume of 370,210 shares, compared to its average volume of 1,008,032. The firm has a market capitalization of $98.84 million, a P/E ratio of -1.95 and a beta of 0.78. Rani Therapeutics has a twelve month low of $0.44 and a twelve month high of $3.87. The stock has a 50-day moving average of $0.77 and a 200-day moving average of $0.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RANI. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Canaccord Genuity Group restated a “buy” rating and issued a $5.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating and one has issued 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.

Insider Activity at Rani Therapeutics

In related news, CEO Talat Imran acquired 35,000 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were acquired at an average cost of $0.72 per share, with a total value of $25,200.00. Following the transaction, the chief executive officer owned 469,736 shares of the company’s stock, valued at $338,209.92. The trade was a 8.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $69,000. OMERS ADMINISTRATION Corp acquired a new stake in Rani Therapeutics in the 4th quarter valued at approximately $93,000. Farallon Capital Management LLC bought a new stake in Rani Therapeutics in the 4th quarter valued at approximately $105,000. Kestra Private Wealth Services LLC lifted its stake in Rani Therapeutics by 44.8% in the 3rd 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 in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in Rani Therapeutics during the 4th quarter worth approximately $155,000. Institutional investors own 30.19% of the company’s stock.

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.