Rani Therapeutics (NASDAQ:RANI) Posts Earnings Results, Beats Estimates By $0.01 EPS

Rani Therapeutics (NASDAQ:RANIGet Free Report) released its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports. The company had revenue of $1.71 million during the quarter, compared to analyst estimates of $0.93 million.

Rani Therapeutics Price Performance

Shares of NASDAQ:RANI opened at $0.80 on Friday. The business’s 50 day moving average price is $0.77 and its 200-day moving average price is $0.97. The firm has a market capitalization of $98.62 million, a PE ratio of -2.95 and a beta of 0.78. Rani Therapeutics has a 1 year low of $0.44 and a 1 year high of $3.87.

Insider Activity at Rani Therapeutics

In other news, CEO Talat Imran acquired 35,000 shares of Rani Therapeutics stock in a transaction that occurred on Friday, July 17th. The stock was purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following the purchase, the chief executive officer owned 469,736 shares in the company, valued at $338,209.92. This trade represents a 8.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.73% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Large investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $69,000. OMERS ADMINISTRATION Corp acquired a new position in Rani Therapeutics during the fourth quarter worth about $93,000. Farallon Capital Management LLC purchased a new stake in Rani Therapeutics during the 4th quarter valued at about $105,000. Kestra Private Wealth Services LLC grew its stake in Rani Therapeutics by 44.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after acquiring an additional 70,002 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Rani Therapeutics in the 4th quarter valued at about $155,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rani Therapeutics in a report on Wednesday, May 20th. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rani Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Check Out Our Latest Research Report on RANI

About Rani Therapeutics

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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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Earnings History for Rani Therapeutics (NASDAQ:RANI)

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