Mir Imran Buys 36,000 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran bought 36,000 shares of the stock in a transaction dated Tuesday, July 21st. The shares were bought at an average cost of $0.69 per share, with a total value of $24,840.00. Following the completion of the acquisition, the director directly owned 2,119,334 shares of the company’s stock, valued at approximately $1,462,340.46. The trade was a 1.73% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Rani Therapeutics Price Performance

Shares of NASDAQ RANI traded up $0.01 during mid-day trading on Tuesday, hitting $0.82. The company had a trading volume of 170,538 shares, compared to its average volume of 1,047,185. The stock has a market cap of $101.95 million, a price-to-earnings ratio of -2.01 and a beta of 0.78. Rani Therapeutics Holdings, Inc. has a 12 month low of $0.44 and a 12 month high of $3.87. The firm’s 50 day simple moving average is $0.81 and its two-hundred day simple moving average is $1.03.

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

Hedge Funds Weigh In On Rani Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in Rani Therapeutics during the 4th quarter valued at about $40,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics in the 4th quarter worth approximately $69,000. OMERS ADMINISTRATION Corp bought a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $93,000. Farallon Capital Management LLC bought a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $105,000. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Rani Therapeutics by 44.8% during the third 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 period. Institutional investors own 30.19% of the company’s stock.

Analyst Ratings Changes

RANI has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Rani Therapeutics in a report on Wednesday, May 20th. Lake Street Capital began coverage on shares of Rani Therapeutics in a research note on Tuesday, April 14th. They set a “buy” rating and a $9.00 target price for the company. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings lowered shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Four 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

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.