Rani Therapeutics (NASDAQ:RANI) Announces Earnings Results, Beats Expectations By $0.01 EPS

Rani Therapeutics (NASDAQ:RANI) released its quarterly earnings data on Thursday. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01, FiscalAI reports. The business had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $0.93 million.

Rani Therapeutics Price Performance

NASDAQ RANI traded down $0.00 during mid-day trading on Thursday, hitting $0.80. The stock had a trading volume of 358,630 shares, compared to its average volume of 1,007,880. The firm’s 50 day moving average is $0.77 and its 200 day moving average is $0.98. The stock has a market capitalization of $98.84 million, a price-to-earnings ratio of -1.95 and a beta of 0.78. Rani Therapeutics has a twelve month low of $0.44 and a twelve month high of $3.87.

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran bought 35,000 shares of Rani Therapeutics stock in a transaction dated Friday, July 17th. The stock was acquired at an average cost of $0.72 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the chief executive officer directly owned 469,736 shares of the company’s stock, valued at approximately $338,209.92. This represents a 8.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 26.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in Rani Therapeutics in the 4th quarter valued at $465,000. Siren L.L.C. acquired a new position in shares of Rani Therapeutics during the 4th quarter valued at about $2,700,000. State Street Corp grew its holdings in shares of Rani Therapeutics by 519.8% in the fourth quarter. State Street Corp now owns 387,042 shares of the company’s stock valued at $523,000 after purchasing an additional 324,600 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Rani Therapeutics during the fourth quarter worth about $386,000. Finally, Geode Capital Management LLC raised its stake in Rani Therapeutics by 190.0% during the fourth quarter. Geode Capital Management LLC now owns 860,941 shares of the company’s stock worth $1,163,000 after purchasing an additional 564,031 shares during the period. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RANI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Rani Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings cut shares of Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $5.00 target price on shares of Rani Therapeutics in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rani Therapeutics has an average rating of “Moderate Buy” and an average target price of $8.75.

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.