Rani Therapeutics (NASDAQ:RANI) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Rani Therapeutics (NASDAQ:RANI) reported quarterly earnings of ($0.12) EPS, missing estimates of ($0.09) by $0.03. The stock fell to $2.02, with a market cap of $145.18 million. Major shareholder South Cone Investments sold 4 million shares, while Director Mir A. Imran purchased 2.08 million shares. Institutional ownership stands at 30.19%. Analysts have mixed ratings, with a target price range from $5.00 to $11.00, reflecting a "Moderate Buy" average rating.
Rani Therapeutics (NASDAQ:RANI - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.03), FiscalAI reports.
Get Rani Therapeutics alerts:
Rani Therapeutics Stock Performance
NASDAQ RANI traded down $0.25 on Friday, reaching $2.02. The stock had a trading volume of 6,407,335 shares, compared to its average volume of 53,376,040. Rani Therapeutics has a 12-month low of $0.39 and a 12-month high of $3.87. The business's 50-day moving average price is $1.00 and its 200 day moving average price is $0.75. The stock has a market cap of $145.18 million, a P/E ratio of -2.56 and a beta of 0.38.
Insider Activity
In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 4,000,000 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $2.77, for a total transaction of $11,080,000.00. Following the completion of the transaction, the insider owned 2,379,194 shares in the company, valued at approximately $6,590,367.38. The trade was a 62.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mir A. Imran bought 2,083,334 shares of the stock in a transaction on Thursday, October 23rd. The stock was purchased 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. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 45.08% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Rani Therapeutics stock. Armistice Capital LLC bought a new position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,151,354 shares of the company's stock, valued at approximately $1,619,000. Armistice Capital LLC owned approximately 4.99% of Rani Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.19% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on RANI. Maxim Group lifted their price objective on shares of Rani Therapeutics from $5.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, October 20th. HC Wainwright reissued a "buy" rating and set a $11.00 price target on shares of Rani Therapeutics in a research report on Tuesday, October 21st. Wall Street Zen raised shares of Rani Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rani Therapeutics in a research report on Friday, October 31st. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $8.50.
Read Our Latest Stock Report on Rani Therapeutics
Rani Therapeutics Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than Rani Therapeutics
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- OpenAI's Restructuring Sets up What Could Be the Biggest IPO Ever
- How to Short Nasdaq: An Easy-to-Follow Guide
- 2 Rare Earth Stocks the U.S. Government Doesn’t Want to Fail
- Pets Are Big Business: 4 Big-Ticket Pet Stocks to Add to Your Portfolio
- CrowdStrike Partners With CoreWeave But Investors Sell the News
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Rani Therapeutics Right Now?
Before you consider Rani Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rani Therapeutics wasn't on the list.
While Rani Therapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
