Mir Imran Acquires 2,083,334 Shares of Rani Therapeutics (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran acquired 2,083,334 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average cost of $0.60 per share, with a total value of $1,250,000.40. Following the completion of the purchase, the director directly owned 2,083,334 shares in the company, valued at $1,250,000.40. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $1.89 on Wednesday. Rani Therapeutics Holdings, Inc. has a 1-year low of $0.39 and a 1-year high of $3.87. The company has a market capitalization of $135.83 million, a P/E ratio of -2.08 and a beta of -0.02. The business has a 50 day moving average price of $0.76 and a 200 day moving average price of $0.70.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, research analysts expect that Rani Therapeutics Holdings, Inc. will post -1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

RANI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Tuesday, October 21st. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Maxim Group raised their price target on Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Hedge Funds Weigh In On Rani Therapeutics

Hedge funds have recently bought and sold shares of the stock. Well Done LLC purchased a new stake in shares of Rani Therapeutics in the second quarter valued at $27,000. Janney Montgomery Scott LLC grew its position in shares of Rani Therapeutics by 102.9% in the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after purchasing an additional 28,000 shares during the period. King Luther Capital Management Corp grew its position in shares of Rani Therapeutics by 75.8% in the first quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after purchasing an additional 25,000 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Rani Therapeutics by 16.3% in the first quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company’s stock valued at $175,000 after purchasing an additional 19,536 shares during the period. Finally, CWA Asset Management Group LLC grew its position in shares of Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after purchasing an additional 66,667 shares during the period. Hedge funds and other institutional investors 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.