Talat Imran Sells 8,014 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran sold 8,014 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $1.41, for a total value of $11,299.74. Following the completion of the sale, the chief executive officer directly owned 486,737 shares in the company, valued at approximately $686,299.17. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talat Imran also recently made the following trade(s):

• On Friday, July 17th, Talat Imran acquired 35,000 shares of Rani Therapeutics stock. The shares were purchased at an average cost of $0.72 per share, with a total value of $25,200.00.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock opened at $0.84 on Thursday. Rani Therapeutics Holdings, Inc. has a 1 year low of $0.44 and a 1 year high of $3.87. The firm has a market cap of $104.54 million, a price-to-earnings ratio of -2.06 and a beta of 0.78. The company has a 50-day moving average of $0.80 and a 200 day moving average of $1.02.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC purchased a new stake in Rani Therapeutics in the second quarter worth about $1,619,000. Citadel Advisors LLC lifted its position in shares of Rani Therapeutics by 199.0% during the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after buying an additional 301,193 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Rani Therapeutics by 44.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after buying an additional 70,002 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Rani Therapeutics during the 4th quarter valued at approximately $40,000. Finally, Geode Capital Management LLC grew its stake in shares of Rani Therapeutics by 190.0% during the 4th quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock valued at $1,163,000 after acquiring an additional 564,031 shares during the period. 30.19% of the stock is owned by institutional investors.

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.