Chardan Capital Initiates Coverage on Rani Therapeutics (NASDAQ:RANI)

Equities researchers at Chardan Capital initiated coverage on shares of Rani Therapeutics (NASDAQ:RANI) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating on the stock.

A number of other brokerages have also weighed in on RANI. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Finally, Weiss Ratings lowered shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.75.

Rani Therapeutics Stock Down 0.0%

Shares of RANI stock opened at $0.80 on Tuesday. The business has a 50-day moving average price of $0.77 and a two-hundred day moving average price of $0.97. Rani Therapeutics has a 12-month low of $0.44 and a 12-month high of $3.87. The firm has a market cap of $98.60 million, a P/E ratio of -2.95 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $1.71 million for the quarter, compared to the consensus estimate of $0.93 million. As a group, research analysts expect that Rani Therapeutics will post -0.17 EPS for the current fiscal year.

Insider Activity at Rani Therapeutics

In other news, CEO Talat Imran purchased 35,000 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was bought at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the acquisition, the chief executive officer directly owned 469,736 shares of the company’s stock, valued at $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 this link. 26.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rani Therapeutics

Large investors have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC bought a new position in shares of Rani Therapeutics during the second quarter valued at about $2,670,190,000. Almitas Capital LLC purchased a new position in Rani Therapeutics during the 2nd quarter valued at about $7,111,000. Seven Fleet Capital Management LP bought a new position in Rani Therapeutics during the 2nd quarter valued at approximately $1,011,299,000. Bank of America Corp DE bought a new position in Rani Therapeutics during the 2nd quarter valued at approximately $706,000. Finally, AWM Investment Company Inc. purchased a new stake in Rani Therapeutics in the 2nd quarter worth approximately $5,703,000. 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.