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

by · The Cerbat Gem

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 8,302,194 shares of the company’s stock, valued at approximately $22,000,814.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Rani Therapeutics Trading Up 1.2 %

RANI opened at $2.63 on Friday. The stock’s fifty day simple moving average is $2.56 and its 200 day simple moving average is $3.86. 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 quick ratio of 1.93 and a current ratio of 1.93.

Rani Therapeutics (NASDAQ:RANI – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. Equities research analysts expect that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RANI. HC Wainwright dropped 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 assumed coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They set an “outperform” rating and a $17.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rani Therapeutics presently has an average rating of “Buy” and a consensus price target of $11.71.

View Our Latest Analysis on Rani Therapeutics

Institutional Investors Weigh In On Rani Therapeutics

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