Rani Therapeutics (NASDAQ:RANI) Releases Quarterly Earnings Results

Rani Therapeutics (NASDAQ:RANI) announced its quarterly earnings data on Thursday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The firm had revenue of $1.46 million during the quarter, compared to the consensus estimate of $5.00 million.

Rani Therapeutics Stock Down 5.3%

Shares of Rani Therapeutics stock traded down $0.06 during midday trading on Thursday, hitting $1.08. The company’s stock had a trading volume of 2,464,659 shares, compared to its average volume of 1,049,190. Rani Therapeutics has a 1-year low of $0.39 and a 1-year high of $3.87. The firm has a market capitalization of $131.23 million, a P/E ratio of -1.37 and a beta of 0.39. The stock has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $1.30.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Rani Therapeutics in a report on Friday, January 9th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.33.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Rani Therapeutics in the fourth quarter worth $69,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Rani Therapeutics during the 4th quarter worth about $93,000. Farallon Capital Management LLC bought a new stake in shares of Rani Therapeutics during the 4th quarter worth about $105,000. Kestra Private Wealth Services LLC increased its holdings 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 acquiring an additional 70,002 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $155,000. 30.19% of the stock is currently 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.