South Cone Investments Limited Sells 1,923,000 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) major shareholder South Cone Investments Limited sold 1,923,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $2.41, for a total transaction of $4,634,430.00. Following the completion of the sale, the insider owned 6,379,194 shares in the company, valued at $15,373,857.54. The trade was a 23.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

South Cone Investments Limited also recently made the following trade(s):

• On Tuesday, October 21st, South Cone Investments Limited sold 4,000,000 shares of Rani Therapeutics stock. The stock was sold at an average price of $2.77, for a total transaction of $11,080,000.00.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $2.09 on Friday. The company’s 50 day simple moving average is $0.68 and its 200 day simple moving average is $0.69. Rani Therapeutics Holdings, Inc. has a 12 month low of $0.39 and a 12 month high of $3.87. The company has a market capitalization of $150.21 million, a P/E ratio of -2.30 and a beta of -0.02.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Thursday, August 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. On average, analysts anticipate that Rani Therapeutics Holdings, Inc. will post -1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RANI shares. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Rani Therapeutics in a report on Wednesday, October 8th. Finally, Maxim Group boosted their price target on shares of Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC increased its stake in Rani Therapeutics by 80.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after buying an additional 66,667 shares during the period. Armistice Capital LLC acquired a new position in Rani Therapeutics in the 2nd quarter valued at approximately $1,619,000. Janney Montgomery Scott LLC increased its stake in Rani Therapeutics by 102.9% in 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 during the period. Well Done LLC acquired a new position in Rani Therapeutics in the 2nd quarter valued at approximately $27,000. Finally, King Luther Capital Management Corp increased its stake in Rani Therapeutics by 75.8% in 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 during the period. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

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.