Insider Selling: Rani Therapeutics (NASDAQ:RANI) CEO Sells 8,014 Shares

Key Points

• CEO Talat Imran sold 8,014 Rani Therapeutics shares at an average price of $1.41, generating $11,299.74; the filing said the sale covered tax withholding tied to vested equity awards.
• Rani Therapeutics shares recently traded around $0.82, with a market capitalization of approximately $102 million. The company reported quarterly revenue of $1.71 million and an adjusted loss of $0.04 per share, beating analysts’ estimates.
• Analysts maintain a generally positive view, with four Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $8.75 versus the recent share price.

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) CEO Talat Imran sold 8,014 shares of Rani Therapeutics stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $1.41, for a total transaction of $11,299.74. Following the completion of the sale, the chief executive officer owned 486,737 shares in the company, valued at approximately $686,299.17. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talat Imran also recently made the following trade(s):

• On Friday, July 17th, Talat Imran bought 35,000 shares of Rani Therapeutics stock. The shares were purchased at an average cost of $0.72 per share, with a total value of $25,200.00.

Rani Therapeutics Stock Up 1.8%

NASDAQ RANI traded up $0.01 on Tuesday, hitting $0.82. The stock had a trading volume of 170,538 shares, compared to its average volume of 1,047,185. The company's 50-day moving average is $0.81 and its two-hundred day moving average is $1.03. Rani Therapeutics Holdings, Inc. has a one year low of $0.44 and a one year high of $3.87. The stock has a market cap of $102.20 million, a price-to-earnings ratio of -2.01 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.12 million. On average, sell-side analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on RANI. Canaccord Genuity Group reaffirmed a "buy" rating and set a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Lake Street Capital started coverage on Rani Therapeutics in a report on Tuesday, April 14th. They set a "buy" rating and a $9.00 price target on the stock. Weiss Ratings cut shares of Rani Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Rani Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $8.75.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Rani Therapeutics during the 4th quarter valued at $40,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at $69,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at $93,000. Farallon Capital Management LLC bought a new position in Rani Therapeutics during the fourth quarter valued at about $105,000. Finally, Kestra Private Wealth Services LLC boosted its stake in 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 buying an additional 70,002 shares in the last quarter. 30.19% of the stock is owned by institutional investors.

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.