Rani Therapeutics (NASDAQ:RANI) Stock Price Down 2.3% - Should You Sell?

Key Points

• Rani Therapeutics shares fell 2.3% on Wednesday, trading between $0.66 and $0.693 as volume came in slightly above average.
• Analyst sentiment is mixed but still leans positive: four analysts rate the stock a Buy, while one has a Sell rating, and the consensus target price is $8.75. Recent notes included Buy ratings from HC Wainwright, Canaccord Genuity, and Lake Street Capital, alongside a Sell rating from Weiss Ratings.
• The company reported a smaller-than-expected quarterly loss and better-than-expected revenue, but it remains unprofitable and is projected to post -0.18 EPS for the current year. Institutional investors also own about 30.19% of the stock.

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report)'s stock price traded down 2.3% on Wednesday . The company traded as low as $0.66 and last traded at $0.6930. Approximately 631,483 shares traded hands during trading, an increase of 7% from the average session volume of 589,407 shares. The stock had previously closed at $0.7093.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $11.00 target price on shares of Rani Therapeutics in a report on Friday, March 27th. Canaccord Genuity Group reiterated a "buy" rating and issued a $5.00 price objective on shares of Rani Therapeutics in a report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rani Therapeutics in a research note on Wednesday, June 24th. Wall Street Zen upgraded Rani Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Lake Street Capital began coverage on Rani Therapeutics in a research report on Tuesday, April 14th. They issued a "buy" rating and a $9.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.75.

Rani Therapeutics Stock Performance

The stock has a market capitalization of $85.85 million, a PE ratio of -1.69 and a beta of 0.78. The firm's 50 day moving average is $0.87 and its two-hundred day moving average is $1.09.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to analysts' expectations of $1.12 million. On average, analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in Rani Therapeutics during the 4th quarter worth $11,475,000. AWM Investment Company Inc. acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $8,775,000. SymBiosis Capital Partners LLC acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $8,505,000. Armistice Capital LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at about $1,619,000. Finally, Siren L.L.C. purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at about $2,700,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Company Profile

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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