Rani Therapeutics (NASDAQ:RANI) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Rani Therapeutics (NASDAQ:RANI) issued its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The business had revenue of $1.46 million for the quarter, compared to analysts’ expectations of $5.00 million.

Rani Therapeutics Stock Down 5.3%

Rani Therapeutics stock traded down $0.06 on Thursday, hitting $1.08. The company’s stock had a trading volume of 2,382,540 shares, compared to its average volume of 1,041,084. Rani Therapeutics has a one year low of $0.39 and a one year high of $3.87. The firm has a market cap of $131.23 million, a P/E ratio of -1.37 and a beta of 0.39. The company has a fifty day moving average price of $1.29 and a 200-day moving average price of $1.30.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Institutional Trading of Rani Therapeutics

Several institutional investors have recently made changes to their positions in RANI. Virtu Financial LLC bought a new stake in Rani Therapeutics in the fourth quarter valued at about $69,000. OMERS ADMINISTRATION Corp bought a new position 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 valued at approximately $105,000. Kestra Private Wealth Services LLC boosted its holdings 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 valued at $113,000 after purchasing an additional 70,002 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Rani Therapeutics during the fourth quarter valued at approximately $155,000. 30.19% of the stock is currently 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.