Rani Therapeutics (NASDAQ:RANI) Shares Climb 1.5% - Here's What Happened

Key Points

• Rani Therapeutics shares rose 1.5% to $0.68 in mid-day trading, though trading volume was 21% below the stock’s average. The company has a market capitalization of approximately $94.8 million.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $8.75, despite one sell rating.
• Rani exceeded its latest quarterly expectations, reporting a loss of $0.04 per share versus a forecasted $0.05 loss and revenue of $1.71 million versus estimates of $0.93 million. CEO Talat Imran also increased his stake by purchasing 35,000 shares.

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) shares were up 1.5% during mid-day trading on Thursday. The stock traded as high as $0.6943 and last traded at $0.68. 450,210 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 572,240 shares. The stock had previously closed at $0.6702.

Analyst Upgrades and Downgrades

Several research firms recently commented on RANI. HC Wainwright reaffirmed a "buy" rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Weiss Ratings lowered Rani Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 17th. Finally, Chardan Capital upgraded Rani Therapeutics to a "strong-buy" rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.75.

Rani Therapeutics Trading Up 1.5%

The company has a market cap of $94.79 million, a PE ratio of -2.52 and a beta of 0.69. The business has a fifty day moving average of $0.81 and a 200-day moving average of $0.83.

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

Insider Activity at Rani Therapeutics

In related news, CEO Talat Imran acquired 35,000 shares of Rani Therapeutics stock in a transaction that occurred on Friday, July 17th. The stock was bought at an average price of $0.72 per share, with a total value of $25,200.00. Following the transaction, the chief executive officer directly owned 469,736 shares in the company, valued at approximately $338,209.92. This represents a 8.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 26.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RANI. AWM Investment Company Inc. purchased a new position in Rani Therapeutics in the 2nd quarter worth about $5,703,000. Squarepoint Ops LLC increased its position in Rani Therapeutics by 155.5% during the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company's stock valued at $32,000 after acquiring an additional 25,501 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company's stock worth $195,000 after purchasing an additional 10,347 shares during the last quarter. 30.19% of the stock is owned by institutional investors.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company's platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.

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