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

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

Rani Therapeutics Trading Down 0.6%

Rani Therapeutics stock traded down $0.00 during trading on Thursday, hitting $0.80. The company had a trading volume of 358,630 shares, compared to its average volume of 1,007,880. The stock has a market cap of $98.84 million, a price-to-earnings ratio of -1.95 and a beta of 0.78. Rani Therapeutics has a 1-year low of $0.44 and a 1-year high of $3.87. The company’s 50 day simple moving average is $0.77 and its 200-day simple moving average is $0.98.

Analysts Set New Price Targets

A number of equities research analysts have commented on RANI shares. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Canaccord Genuity Group reissued a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Finally, 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. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from 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 other news, CEO Talat Imran acquired 35,000 shares of the company’s stock in a transaction dated Friday, July 17th. The stock was acquired at an average cost of $0.72 per share, with a total value of $25,200.00. Following the completion of the purchase, the chief executive officer owned 469,736 shares of the company’s stock, valued at $338,209.92. This represents a 8.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 26.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at about $69,000. OMERS ADMINISTRATION Corp purchased a new stake in Rani Therapeutics during the fourth quarter worth about $93,000. Farallon Capital Management LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth about $105,000. Bridgeway Capital Management LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $155,000. Finally, Millennium Management LLC acquired a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $220,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

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.