Rani Therapeutics Holdings Inc’s recent filing unveils that its 10% Owner South Cone Investments Limited unloaded Company’s shares for reported $10.14 million on Oct 15 ’24. In the deal valued at $2.65 per share,3,829,360 shares were sold. As a result of this transaction, South Cone Investments Limited now holds 8,302,194 shares worth roughly $19.43 million.
Then, Quiroga Cortes Isidoro Alfonso sold 5,265,165 shares, generating $10,582,982 in total proceeds. Upon selling the shares at $2.01, the 10% Owner now owns 8,400 shares.
Before that, South Cone Investments Limited bought 5,265,165 shares. Rani Therapeutics Holdings Inc shares valued at $10,582,982 were divested by the 10% Owner at a price of $2.01 per share. As a result of the transaction, South Cone Investments Limited now holds 12,131,554 shares, worth roughly $28.39 million.
Oppenheimer initiated its Rani Therapeutics Holdings Inc [RANI] rating to an Outperform in a research note published on August 02, 2024; the price target was $17. A number of analysts have revised their coverage, including Maxim Group’s analysts, who began to cover the stock in mid June with a ‘”a Buy”‘ rating. Rodman & Renshaw began covering RANI with “Buy” recommendation on June 13, 2024.
Price Performance Review of RANI
On Friday, Rani Therapeutics Holdings Inc [NASDAQ:RANI] saw its stock fall -2.09% to $2.34. Over the last five days, the stock has lost -12.69%. Rani Therapeutics Holdings Inc shares have fallen nearly -29.52% since the year began. Nevertheless, the stocks have risen 18.18% over the past one year. While a 52-week high of $8.75 was reached on 04/17/24, a 52-week low of $1.82 was recorded on 09/26/24. SMA at 50 days reached $2.54, while 200 days put it at $3.72.
Levels Of Support And Resistance For RANI Stock
The 24-hour chart illustrates a support level at 2.27, which if violated will result in even more drops to 2.19. On the upside, there is a resistance level at 2.47. A further resistance level may holdings at 2.59. The Relative Strength Index (RSI) on the 14-day chart is 48.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.50%. Stochastics %K at 22.93% indicates the stock is a holding.
How much short interest is there in Rani Therapeutics Holdings Inc?
A steep rise in short interest was recorded in Rani Therapeutics Holdings Inc stocks on 2024-10-15, growing by 1.75 million shares to a total of 2.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 0.8 million shares. There was a rise of 68.7%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 11, 2022 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $15 price target.
