Rani Therapeutics (NASDAQ:RANI) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Rani Therapeutics (NASDAQ:RANI) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other brokerages also recently issued reports on RANI. Canaccord Genuity Group cut their target price on Rani Therapeutics from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Lake Street Capital began coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Friday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Rani Therapeutics in a report on Friday, March 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rani Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.

Rani Therapeutics Trading Up 3.7%

Shares of RANI stock opened at $0.97 on Friday. The company has a market cap of $119.42 million, a price-to-earnings ratio of -1.64 and a beta of 0.74. The stock has a 50 day simple moving average of $1.05 and a 200-day simple moving average of $1.38. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Thursday, March 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $1.46 million during the quarter, compared to analyst estimates of $5.00 million. On average, equities analysts forecast that Rani Therapeutics will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Armistice Capital LLC purchased a new stake in shares of Rani Therapeutics during the 2nd quarter valued at $1,619,000. Geode Capital Management LLC grew its stake in shares of Rani Therapeutics by 190.0% during the 4th quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock valued at $1,163,000 after buying an additional 564,031 shares during the period. 683 Capital Management LLC purchased a new stake in shares of Rani Therapeutics during the 4th quarter valued at $658,000. State Street Corp grew its stake in shares of Rani Therapeutics by 519.8% during the 4th quarter. State Street Corp now owns 387,042 shares of the company’s stock valued at $523,000 after buying an additional 324,600 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Rani Therapeutics during the 4th quarter valued at $465,000. Hedge funds and other 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.