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
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
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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