What is Zacks Small Cap's Forecast for RANI FY2024 Earnings?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) - Investment analysts at Zacks Small Cap lifted their FY2024 EPS estimates for shares of Rani Therapeutics in a report released on Wednesday, November 20th. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will post earnings per share of ($1.06) for the year, up from their previous estimate of ($1.10). The consensus estimate for Rani Therapeutics' current full-year earnings is ($0.99) per share.

RANI has been the subject of several other reports. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Oppenheimer initiated coverage on Rani Therapeutics in a research report on Friday, August 2nd. They issued an "outperform" rating and a $17.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $11.71.

Rani Therapeutics Stock Performance

Shares of Rani Therapeutics stock remained flat at $2.08 during midday trading on Monday. 635,401 shares of the company were exchanged, compared to its average volume of 549,278. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The company's fifty day moving average is $2.33 and its two-hundred day moving average is $3.21. Rani Therapeutics has a fifty-two week low of $1.90 and a fifty-two week high of $8.75.

Insider Activity at Rani Therapeutics

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction on Tuesday, October 15th. The shares were 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 $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RANI. Geode Capital Management LLC increased its position in shares of Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company's stock worth $372,000 after acquiring an additional 21,527 shares in the last quarter. Stifel Financial Corp increased its holdings in Rani Therapeutics by 100.4% during the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company's stock worth $583,000 after purchasing an additional 135,148 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company's stock valued at $175,000 after purchasing an additional 25,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics during the second quarter worth about $81,000. Finally, Vanguard Group Inc. grew its holdings in shares of Rani Therapeutics by 2.5% during the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company's stock worth $2,131,000 after buying an additional 16,956 shares in the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

About Rani Therapeutics

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.