Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Major Shareholder South Cone Investments Limited Acquires 13,300 Shares

Rani Therapeutics Holdings, Inc. (NASDAQ:RANIGet Rating) major shareholder South Cone Investments Limited bought 13,300 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average price of $7.49 per share, with a total value of $99,617.00. Following the completion of the transaction, the insider now directly owns 6,542,656 shares of the company’s stock, valued at approximately $49,004,493.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

South Cone Investments Limited also recently made the following trade(s):

  • On Monday, November 21st, South Cone Investments Limited purchased 3,200 shares of Rani Therapeutics stock. The shares were acquired at an average price of $7.87 per share, with a total value of $25,184.00.

Rani Therapeutics Trading Up 7.1 %

Shares of Rani Therapeutics stock traded up $0.52 during trading on Thursday, reaching $7.89. 51,226 shares of the stock were exchanged, compared to its average volume of 48,497. The company has a quick ratio of 14.02, a current ratio of 14.02 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $7.74 and its 200 day moving average is $9.71. The firm has a market cap of $389.45 million, a price-to-earnings ratio of -6.58 and a beta of 0.03. Rani Therapeutics Holdings, Inc. has a 1 year low of $5.62 and a 1 year high of $32.50.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Rani Therapeutics by 1.6% in the first quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock worth $3,916,000 after buying an additional 4,561 shares in the last quarter. State Street Corp raised its stake in Rani Therapeutics by 32.7% in the first quarter. State Street Corp now owns 26,142 shares of the company’s stock worth $353,000 after buying an additional 6,442 shares in the last quarter. Canton Hathaway LLC raised its stake in Rani Therapeutics by 88.4% in the third quarter. Canton Hathaway LLC now owns 16,200 shares of the company’s stock worth $155,000 after buying an additional 7,600 shares in the last quarter. Islay Capital Management LLC bought a new position in Rani Therapeutics in the second quarter worth about $99,000. Finally, Crossvault Capital Management LLC bought a new position in Rani Therapeutics in the second quarter worth about $148,000. 4.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright assumed coverage on shares of Rani Therapeutics in a research report on Wednesday, July 27th. They set a “buy” rating and a $22.00 price target for the company. UBS Group assumed coverage on shares of Rani Therapeutics in a research report on Tuesday, October 11th. They set a “buy” rating for the company.

Rani Therapeutics Company Profile

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Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a platform that is intended to replace subcutaneous or IV injection of biologics with oral dosing. Its product pipeline includes RT-101, an octreotide, which has completed Phase I clinical trial for the treatment of neuroendocrine tumors and acromegaly; RT-105, an anti-TNF-alpha antibody to treat psoriatic arthritis; RT-102, a parathyroid hormone that is in preclinical studies for the treatment of osteoporosis; RT-109, a human growth hormone to treat growth hormone deficiency; RT-110, a parathyroid hormone for the treatment of hypoparathyroidism; and RT-106, a basal insulin for the treatment of type 2 diabetes.

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