1,469,129 Shares in Rani Therapeutics Holdings, Inc. $RANI Purchased by Almitas Capital LLC

Key Points

• Almitas Capital acquired 1,469,129 Rani Therapeutics shares worth approximately $7.1 million, making up 1.7% of its portfolio and about 1.19% of Rani’s outstanding stock. Institutional investors collectively own 30.19% of the company.
• CEO Talat Imran purchased 35,000 shares for $25,200, increasing his position by 8.05%; company insiders own 26.73% of Rani Therapeutics.
• Rani reported a quarterly loss of $0.04 per share, beating estimates by $0.01, while revenue of $1.71 million exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an $8.75 price target, despite the stock opening at $0.85 and remaining near its 52-week low.

Almitas Capital LLC acquired a new position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,469,129 shares of the company's stock, valued at approximately $7,111,000. Rani Therapeutics comprises about 1.7% of Almitas Capital LLC's investment portfolio, making the stock its 12th largest holding. Almitas Capital LLC owned approximately 1.19% of Rani Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. RA Capital Management L.P. purchased a new position in Rani Therapeutics during the 4th quarter valued at $11,475,000. AWM Investment Company Inc. purchased a new stake in Rani Therapeutics in the 2nd quarter valued at about $5,703,000. SymBiosis Capital Partners LLC purchased a new stake in Rani Therapeutics in the 4th quarter valued at about $8,505,000. Armistice Capital LLC bought a new position in Rani Therapeutics in the 2nd quarter worth about $1,619,000. Finally, Siren L.L.C. purchased a new position in shares of Rani Therapeutics during the fourth quarter worth approximately $2,700,000. Institutional investors own 30.19% of the company's stock.

Insider Activity

In related news, CEO Talat Imran purchased 35,000 shares of Rani Therapeutics stock in a transaction dated Friday, July 17th. The stock was purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 26.73% of the company's stock.

Rani Therapeutics Stock Performance

Shares of RANI opened at $0.85 on Friday. The company has a 50 day moving average price of $0.78 and a 200-day moving average price of $0.95. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.87. The stock has a market capitalization of $119.07 million, a PE ratio of -3.16 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analysts' expectations of $0.93 million. Equities research analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RANI shares. Wall Street Zen raised shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Weiss Ratings downgraded Rani Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Chardan Capital assumed coverage on Rani Therapeutics in a research report on Tuesday, August 18th. They set a "buy" rating for the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.00 target price on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Finally, HC Wainwright reiterated a "buy" rating on shares of Rani Therapeutics in a report on Friday, August 21st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rani Therapeutics 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.

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