Insider Selling: Rani Therapeutics (NASDAQ:RANI) CEO Sells $11,299.74 in Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran sold 8,014 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $1.41, for a total value of $11,299.74. Following the transaction, the chief executive officer owned 486,737 shares of the company’s stock, valued at $686,299.17. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Talat Imran also recently made the following trade(s):

• On Friday, July 17th, Talat Imran purchased 35,000 shares of Rani Therapeutics stock. The stock was acquired at an average price of $0.72 per share, for a total transaction of $25,200.00.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $0.82 on Friday. The stock has a 50 day moving average price of $0.80 and a 200 day moving average price of $1.02. Rani Therapeutics Holdings, Inc. has a 52-week low of $0.44 and a 52-week high of $3.87. The firm has a market capitalization of $101.62 million, a P/E ratio of -2.00 and a beta of 0.78.

Rani Therapeutics (NASDAQ:RANI) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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. As a group, sell-side analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on RANI. Wall Street Zen raised shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 target price on shares of Rani Therapeutics in a report on Wednesday, May 20th. Finally, Lake Street Capital started coverage on Rani Therapeutics in a research note on Tuesday, April 14th. They set a “buy” rating and a $9.00 price target on the stock. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Hedge Funds Weigh In On Rani Therapeutics

A number of large investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC raised its stake in Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after buying an additional 10,347 shares in the last quarter. Virtu Financial LLC bought a new stake in Rani Therapeutics during the 4th quarter valued at $69,000. Millennium Management LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $220,000. Bridgeway Capital Management LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $155,000. Finally, 683 Capital Management LLC bought a new position in shares of Rani Therapeutics in the 4th quarter worth $658,000. Institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

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.