Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Short Interest Update

by · The Cerbat Gem

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,550,000 shares, an increase of 223.4% from the September 30th total of 788,600 shares. Approximately 12.3% of the company’s shares are sold short. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is presently 1.7 days.

Rani Therapeutics Stock Performance

Shares of RANI stock traded down $0.05 during mid-day trading on Friday, reaching $2.34. 828,295 shares of the company’s stock traded hands, compared to its average volume of 541,262. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a market capitalization of $117.98 million, a PE ratio of -1.81 and a beta of 0.12. Rani Therapeutics has a 12 month low of $1.82 and a 12 month high of $8.75. The firm has a 50 day moving average price of $2.54 and a two-hundred day moving average price of $3.82.

Rani Therapeutics (NASDAQ:RANI – Get Free Report) 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 will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RANI shares. Oppenheimer started 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 for the company. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a research note on Friday, October 18th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $11.71.

View Our Latest Stock Analysis on RANI

Insider Transactions at Rani Therapeutics

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the transaction, the insider now directly owns 8,302,194 shares of the company’s stock, valued at approximately $22,000,814.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rani Therapeutics

A hedge fund recently bought a new stake in Rani Therapeutics stock. Marshall Wace LLP purchased a new position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,247 shares of the company’s stock, valued at approximately $81,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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