Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Sees Significant Increase in Short Interest

Key Points

• Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) experienced a significant increase in short interest in September, rising by 133.3% to a total of 149,300 shares as of September 30th.
• The stock price of Rani Therapeutics rose to $1.64 amidst a trading volume of 488,137,510 shares, well above its average volume of 328,357 shares.
• Analysts have a Moderate Buy rating on Rani Therapeutics, with an average target price of $7.33, despite some recent adjustments in hedge fund positions.

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 149,300 shares, an increase of 133.3% from the September 15th total of 64,000 shares. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the shares of the company are sold short. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is presently 0.1 days.

Rani Therapeutics Stock Performance

NASDAQ:RANI traded up $1.17 during mid-day trading on Friday, reaching $1.64. The stock had a trading volume of 488,137,510 shares, compared to its average volume of 328,357. The stock has a market capitalization of $117.87 million, a P/E ratio of -1.80 and a beta of -0.02. The firm has a 50 day moving average price of $0.53 and a two-hundred day moving average price of $0.66. Rani Therapeutics has a one year low of $0.39 and a one year high of $2.78.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. Research analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RANI. CWA Asset Management Group LLC purchased a new position in shares of Rani Therapeutics in the 1st quarter valued at approximately $105,000. Kestra Private Wealth Services LLC lifted its position in Rani Therapeutics by 16.3% during the first quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company's stock valued at $175,000 after buying an additional 19,536 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Rani Therapeutics by 75.8% during the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company's stock valued at $73,000 after buying an additional 25,000 shares in the last quarter. Well Done LLC purchased a new stake in Rani Therapeutics in the second quarter worth about $27,000. Finally, Janney Montgomery Scott LLC increased its position in Rani Therapeutics by 102.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company's stock valued at $28,000 after buying an additional 28,000 shares in the last quarter. Hedge funds and other institutional investors own 30.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of Rani Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised Rani Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Rani Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $7.33.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.

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