Insider Selling: Rani Therapeutics (NASDAQ:RANI) CEO Sells 8,014 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran sold 8,014 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $1.41, for a total transaction of $11,299.74. Following the transaction, the chief executive officer owned 486,737 shares of the company’s stock, valued at approximately $686,299.17. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 acquired 35,000 shares of Rani Therapeutics stock. The stock was acquired at an average cost of $0.72 per share, for a total transaction of $25,200.00.

Rani Therapeutics Trading Up 1.8%

Shares of NASDAQ RANI traded up $0.01 during midday trading on Tuesday, reaching $0.82. The company’s stock had a trading volume of 170,538 shares, compared to its average volume of 1,047,185. Rani Therapeutics Holdings, Inc. has a one year low of $0.44 and a one year high of $3.87. The company has a market cap of $102.20 million, a price-to-earnings ratio of -2.01 and a beta of 0.78. The company has a 50 day moving average price of $0.81 and a 200 day moving average price of $1.03.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $1.12 million. Research analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RANI shares. 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 objective for the company. Weiss Ratings lowered Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $5.00 price target on shares of Rani Therapeutics in a research report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. RA Capital Management L.P. acquired a new position in Rani Therapeutics during the fourth quarter valued at $11,475,000. AWM Investment Company Inc. purchased a new position in Rani Therapeutics during the 4th quarter valued at about $8,775,000. SymBiosis Capital Partners LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at about $8,505,000. Armistice Capital LLC acquired a new position in shares of Rani Therapeutics in the 2nd quarter valued at about $1,619,000. Finally, Siren L.L.C. purchased a new stake in shares of Rani Therapeutics in the fourth quarter worth approximately $2,700,000. 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.