Rani Therapeutics (NASDAQ:RANI) CEO Talat Imran Purchases 35,000 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran purchased 35,000 shares of Rani Therapeutics stock in a transaction that occurred on Friday, July 17th. The stock was acquired at an average cost of $0.72 per share, with a total value of $25,200.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rani Therapeutics Trading Up 1.1%

Shares of RANI stock opened at $0.82 on Wednesday. The firm has a fifty day simple moving average of $0.81 and a two-hundred day simple moving average of $1.03. Rani Therapeutics Holdings, Inc. has a 12 month low of $0.44 and a 12 month high of $3.87. The firm has a market capitalization of $101.49 million, a PE ratio of -2.00 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million during the quarter, compared to the consensus estimate of $1.12 million. On average, equities analysts predict that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RANI. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Lake Street Capital initiated coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $5.00 price objective on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rani Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Institutional Trading of Rani Therapeutics

Several institutional investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at about $40,000. Virtu Financial LLC purchased a new position in Rani Therapeutics during the fourth quarter worth about $69,000. OMERS ADMINISTRATION Corp purchased a new position in Rani Therapeutics during the fourth quarter worth about $93,000. Farallon Capital Management LLC bought a new stake in Rani Therapeutics in the 4th quarter worth about $105,000. Finally, Kestra Private Wealth Services LLC grew its position in Rani Therapeutics by 44.8% in the 3rd 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 in the last quarter. Institutional investors own 30.19% of the company’s stock.

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.