Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $8.75.
RANI has been the topic of several research reports. Weiss Ratings downgraded shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 17th. Chardan Capital raised shares of Rani Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 26th. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Finally, HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a report on Friday, August 21st.
View Our Latest Research Report on RANI
Rani Therapeutics Stock Performance
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. As a group, sell-side analysts predict that Rani Therapeutics will post -0.17 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Talat Imran acquired 35,000 shares of Rani Therapeutics stock in a transaction that occurred on Friday, July 17th. The shares were purchased at an average price of $0.72 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the chief executive officer owned 469,736 shares in the company, valued at $338,209.92. This represents a 8.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 26.73% of the company’s stock.
Institutional Trading of Rani Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in shares of Rani Therapeutics during the 4th quarter worth $40,000. Virtu Financial LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $69,000. OMERS ADMINISTRATION Corp acquired a new stake in Rani Therapeutics during the fourth quarter worth about $93,000. Farallon Capital Management LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth about $105,000. Finally, Kestra Private Wealth Services LLC raised its stake in Rani Therapeutics by 44.8% during the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after purchasing an additional 70,002 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.
About Rani Therapeutics
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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