South Cone Investments Limited Sells 3,829,360 Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Rani Therapeutics Stock Up 1.9 %

Shares of NASDAQ RANI opened at $2.68 on Friday. 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 firm has a market cap of $135.13 million, a PE ratio of -2.08 and a beta of 0.12. The company has a 50 day simple moving average of $2.57 and a 200 day simple moving average of $3.86.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. On average, research analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current year.

Institutional Investors Weigh In On Rani Therapeutics

An institutional investor recently raised its position in Rani Therapeutics stock. Vanguard Group Inc. boosted its stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 685,303 shares of the company’s stock after acquiring an additional 16,956 shares during the period. Vanguard Group Inc. owned 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent quarter. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on RANI. Oppenheimer began coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rani Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $11.71.

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.