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

Rani Therapeutics (NASDAQ:RANI) posted its quarterly earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02, FiscalAI reports. The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.13 million.

Rani Therapeutics Trading Down 2.7%

NASDAQ RANI traded down $0.03 on Friday, hitting $1.08. The company’s stock had a trading volume of 990,425 shares, compared to its average volume of 1,073,515. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The company’s 50-day simple moving average is $1.02 and its 200 day simple moving average is $1.34. The firm has a market cap of $133.59 million, a P/E ratio of -1.83 and a beta of 0.74.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $11,475,000. AWM Investment Company Inc. purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $8,775,000. SymBiosis Capital Partners LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $8,505,000. Armistice Capital LLC purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at approximately $1,619,000. Finally, Siren L.L.C. purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at approximately $2,700,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. Lake Street Capital assumed coverage on Rani Therapeutics in a report on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price objective for the company. Canaccord Genuity Group dropped their price objective on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Wall Street Zen cut Rani Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.80.

Rani Therapeutics Company Profile

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.