Spruce Street Capital LP bought a new stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,661,073 shares of the company's stock, valued at approximately $8,039,593,000. Rani Therapeutics accounts for approximately 1.6% of Spruce Street Capital LP's investment portfolio, making the stock its 19th biggest holding. Spruce Street Capital LP owned 1.34% of Rani Therapeutics as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new position in shares of Rani Therapeutics during the fourth quarter worth $11,475,000. AWM Investment Company Inc. purchased a new stake in shares of Rani Therapeutics in the 4th quarter valued at $8,775,000. SymBiosis Capital Partners LLC acquired a new position in Rani Therapeutics during the 4th quarter worth about $8,505,000. Armistice Capital LLC acquired a new position in Rani Therapeutics during the 2nd quarter worth about $1,619,000. Finally, Siren L.L.C. purchased a new position in Rani Therapeutics during the 4th quarter valued at about $2,700,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on RANI shares. Chardan Capital initiated coverage on Rani Therapeutics in a research report on Tuesday, August 18th. They issued a "buy" rating for the company. HC Wainwright reissued a "buy" rating on shares of Rani Therapeutics in a research report on Friday. 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. Canaccord Genuity Group restated a "buy" rating and issued a $5.00 price objective on shares of Rani Therapeutics in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.75.
Read Our Latest Research Report on Rani Therapeutics
Rani Therapeutics Price Performance
Rani Therapeutics stock opened at $0.88 on Tuesday. The stock has a market cap of $108.89 million, a PE ratio of -3.26 and a beta of 0.78. The stock's fifty day moving average is $0.78 and its two-hundred day moving average is $0.95. Rani Therapeutics Holdings, Inc. has a 1-year low of $0.44 and a 1-year high of $3.87.
Rani Therapeutics (NASDAQ:RANI - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. On average, research analysts expect that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Rani Therapeutics news, CEO Talat Imran purchased 35,000 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer directly owned 469,736 shares of the company's stock, valued at $338,209.92. This trade represents a 8.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.73% of the stock is currently owned by insiders.
Rani Therapeutics Company Profile
(
Free Report)
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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