Rani Therapeutics (NASDAQ:RANI) CEO Acquires $25,200.00 in Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran acquired 35,000 shares of the firm’s stock in a transaction dated Friday, July 17th. The shares were purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following the completion of the transaction, the chief executive officer owned 469,736 shares in the company, valued at approximately $338,209.92. The trade was a 8.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rani Therapeutics Trading Down 2.8%

Shares of RANI stock opened at $0.82 on Friday. The company has a market cap of $101.62 million, a P/E ratio of -2.00 and a beta of 0.78. The firm has a fifty day moving average price of $0.80 and a 200 day moving average price of $1.02. Rani Therapeutics Holdings, Inc. has a 12 month low of $0.44 and a 12 month high of $3.87.

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

Analysts Set New Price Targets

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

Institutional Trading of Rani Therapeutics

A number of large investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in Rani Therapeutics during the 4th quarter worth approximately $40,000. Virtu Financial LLC acquired a new position in Rani Therapeutics during the fourth quarter worth approximately $69,000. OMERS ADMINISTRATION Corp purchased a new stake in Rani Therapeutics in the fourth quarter valued at approximately $93,000. Farallon Capital Management LLC purchased a new stake in Rani Therapeutics in the fourth quarter valued at approximately $105,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at approximately $155,000. 30.19% of the stock is owned by institutional investors and hedge funds.

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.