Rani Therapeutics (NASDAQ:RANI) Stock Price Down 2.2% – What’s Next?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)’s share price fell 2.2% during mid-day trading on Tuesday . The stock traded as low as $1.35 and last traded at $1.35. 1,356,778 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 2,566,240 shares. The stock had previously closed at $1.38.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a report on Monday. Maxim Group increased their price target on shares of Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Rani Therapeutics in a research note on Tuesday, October 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Rani Therapeutics Trading Down 2.2%

The firm has a market cap of $164.04 million, a P/E ratio of -1.71 and a beta of 0.40. The company’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $0.97.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). On average, analysts predict that Rani Therapeutics Holdings, Inc. will post -1.01 EPS for the current fiscal year.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 4,000,000 shares of Rani Therapeutics stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $2.77, for a total value of $11,080,000.00. Following the completion of the transaction, the insider owned 2,379,194 shares in the company, valued at approximately $6,590,367.38. The trade was a 62.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mir A. Imran acquired 2,083,334 shares of Rani Therapeutics stock in a transaction on Thursday, October 23rd. The stock was acquired at an average cost of $0.60 per share, for a total transaction of $1,250,000.40. Following the purchase, the director owned 2,083,334 shares of the company’s stock, valued at approximately $1,250,000.40. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 26.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in shares of Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after acquiring an additional 28,000 shares during the last quarter. Well Done LLC acquired a new stake in Rani Therapeutics in the second quarter worth about $27,000. CWA Asset Management Group LLC raised its holdings in Rani Therapeutics by 80.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock worth $75,000 after purchasing an additional 66,667 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Rani Therapeutics by 44.8% during the 3rd 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 during the period. Finally, Citadel Advisors LLC lifted its position in Rani Therapeutics by 199.0% during the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after purchasing an additional 301,193 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.

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.