Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Sees Significant Decrease in Short Interest

Rani Therapeutics Holdings, Inc. (NASDAQ:RANIGet Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 143,200 shares, a decrease of 23.1% from the April 15th total of 186,100 shares. Based on an average daily trading volume, of 40,300 shares, the short-interest ratio is currently 3.6 days. Currently, 1.0% of the shares of the company are short sold.

NASDAQ:RANI traded down $0.06 during mid-day trading on Monday, hitting $10.94. The company’s stock had a trading volume of 3,328 shares, compared to its average volume of 42,578. Rani Therapeutics has a fifty-two week low of $9.24 and a fifty-two week high of $36.27. The stock has a fifty day moving average of $13.07 and a 200-day moving average of $18.15.

Rani Therapeutics (NASDAQ:RANIGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $1.01. On average, research analysts expect that Rani Therapeutics will post -1.56 EPS for the current year.

Separately, Zacks Investment Research lowered shares of Rani Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Rani Therapeutics has an average rating of “Buy” and an average target price of $21.80.

Several large investors have recently bought and sold shares of RANI. UBS Group AG bought a new position in shares of Rani Therapeutics in the third quarter valued at approximately $55,000. JPMorgan Chase & Co. bought a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $68,000. Bank of America Corp DE raised its stake in shares of Rani Therapeutics by 201.4% in the fourth quarter. Bank of America Corp DE now owns 4,422 shares of the company’s stock valued at $73,000 after acquiring an additional 2,955 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Rani Therapeutics in the fourth quarter valued at approximately $344,000. Finally, State Street Corp raised its stake in shares of Rani Therapeutics by 32.7% in the first quarter. State Street Corp now owns 26,142 shares of the company’s stock valued at $353,000 after acquiring an additional 6,442 shares during the last quarter. Institutional investors own 2.31% of the company’s stock.

Rani Therapeutics Company Profile (Get Rating)

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a platform that is intended to replace subcutaneous or IV injection of biologics with oral dosing. Its product pipeline includes RT-101, an octreotide, which has completed Phase I clinical trial for the treatment of neuroendocrine tumors and acromegaly; RT-105, an anti-TNF-alpha antibody to treat psoriatic arthritis; RT-102, a parathyroid hormone that is in preclinical studies for the treatment of osteoporosis; RT-109, a human growth hormone to treat growth hormone deficiency; RT-110, a parathyroid hormone for the treatment of hypoparathyroidism; and RT-106, a basal insulin for the treatment of type 2 diabetes.

See Also

Receive News & Ratings for Rani Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rani Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.