AWM Investment Company Inc. Purchases Shares of 7,500,000 Rani Therapeutics Holdings, Inc. $RANI

Key Points

• AWM Investment Company purchased 7.5 million shares of Rani Therapeutics, valued at approximately $5.7 million, giving it a 6.05% stake. Institutional investors collectively own 30.19% of the company.
• Rani Therapeutics reported quarterly revenue of $1.71 million and an adjusted loss of $0.04 per share, beating analyst expectations of $0.93 million in revenue and a $0.05-per-share loss.
• RANI shares opened at $0.89, while analysts maintained a generally positive outlook: five analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an $8.75 price target.

AWM Investment Company Inc. purchased a new position in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,500,000 shares of the company's stock, valued at approximately $5,703,000. AWM Investment Company Inc. owned approximately 6.05% of Rani Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Jefferies Financial Group Inc. bought a new position in shares of Rani Therapeutics during the fourth quarter valued at about $40,000. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $69,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $93,000. Farallon Capital Management LLC purchased a new stake in Rani Therapeutics during the 4th quarter valued at about $105,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in 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 period. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $0.89 on Wednesday. The firm has a market cap of $124.21 million, a P/E ratio of -3.30 and a beta of 0.78. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $3.87. The business's 50 day moving average price is $0.78 and its 200-day moving average price is $0.95.

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 analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $1.71 million for the quarter, compared to analysts' expectations of $0.93 million. As a group, equities analysts predict that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current year.

Wall Street Analyst Weigh In

RANI has been the topic of several recent research reports. 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 reiterated a "buy" rating and issued a $5.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reissued a "buy" rating on shares of Rani Therapeutics in a research note on Friday, August 21st. Weiss Ratings cut shares of Rani Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Finally, Chardan Capital started coverage on shares of Rani Therapeutics in a report on Tuesday, August 18th. They issued a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rani Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran acquired 35,000 shares of the company's stock in a transaction that occurred on Friday, July 17th. The shares were acquired at an average price of $0.72 per share, with a total value of $25,200.00. Following the completion of the purchase, the chief executive officer directly owned 469,736 shares of the company's stock, 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 SEC, which can be accessed through the SEC website. 26.73% of the stock is currently owned by company insiders.

About Rani Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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