Rani Therapeutics (NASDAQ:RANI) Director Mir Imran Purchases 2,083,334 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Director Mir Imran purchased 2,083,334 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average cost of $0.60 per share, with a total value of $1,250,000.40. Following the completion of the purchase, the director directly owned 2,083,334 shares in the company, valued at $1,250,000.40. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $1.78 on Tuesday. Rani Therapeutics Holdings, Inc. has a 52-week low of $0.39 and a 52-week high of $3.87. The firm has a market capitalization of $127.93 million, a P/E ratio of -1.96 and a beta of -0.02. The stock has a 50 day moving average price of $0.73 and a 200 day moving average price of $0.70.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. As a group, sell-side analysts forecast that Rani Therapeutics Holdings, Inc. will post -1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

RANI has been the subject of a number of research analyst reports. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Rani Therapeutics in a research report on Tuesday, October 21st. Finally, Maxim Group lifted their target price on Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rani Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Well Done LLC purchased a new stake in Rani Therapeutics during the 2nd quarter valued at about $27,000. Janney Montgomery Scott LLC grew its stake in Rani Therapeutics by 102.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after purchasing an additional 28,000 shares during the last quarter. King Luther Capital Management Corp grew its stake in Rani Therapeutics by 75.8% during the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after purchasing an additional 25,000 shares during the last quarter. CWA Asset Management Group LLC grew its stake 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 valued at $75,000 after purchasing an additional 66,667 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in Rani Therapeutics by 16.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company’s stock valued at $175,000 after purchasing an additional 19,536 shares during the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.