Renaissance Technologies LLC Sells 48,600 Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)

Renaissance Technologies LLC decreased its position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 69.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,700 shares of the company’s stock after selling 48,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Rani Therapeutics were worth $82,000 at the end of the most recent quarter.

Separately, Vanguard Group Inc. raised its holdings in Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after purchasing an additional 16,956 shares in the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RANI. HC Wainwright decreased their price objective on Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating for the company in a report on Friday, August 16th. Oppenheimer initiated coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Price Performance

Shares of NASDAQ:RANI opened at $3.18 on Tuesday. Rani Therapeutics Holdings, Inc. has a 1-year low of $1.82 and a 1-year high of $8.75. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93. The business has a fifty day moving average price of $2.56 and a 200-day moving average price of $3.89. The company has a market capitalization of $160.34 million, a PE ratio of -2.47 and a beta of 0.12.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. As a group, equities analysts expect that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Rani Therapeutics Company Profile

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.