The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rani Therapeutics Holdings Inc shares valued at $10,141,674 were sold by South Cone Investments Limited on Oct 15 ’24. At $2.65 per share, South Cone Investments Limited sold 3,829,360 shares. The insider’s holdings dropped to 8,302,194 shares worth approximately $19.26 million following the completion of this transaction.
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Also, Quiroga Cortes Isidoro Alfonso sold 5,265,165 shares, netting a total of over 10,582,982 in proceeds. Following the sale of shares at $2.01 each, the insider now holds 8,400 shares.
Before that, South Cone Investments Limited had added 5,265,165 shares to its account. In a trade valued at $10,582,982, the 10% Owner bought Rani Therapeutics Holdings Inc shares for $2.01 each. Upon closing the transaction, the insider’s holdings increased to 5,265,165 shares, worth approximately $28.15 million.
As published in their initiating research note from Oppenheimer on August 02, 2024, Rani Therapeutics Holdings Inc [RANI] has been an Outperform and the price target has been revised to $17. Analysts at Maxim Group started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of June 13, 2024, Rodman & Renshaw has initiated its “Buy” rating for RANI.
Analyzing RANI Stock Performance
During the last five days, there has been a drop of approximately -7.94%. Over the course of the year, Rani Therapeutics Holdings Inc shares have dropped approximately -30.12%. Shares of the company reached a 52-week high of $8.75 on 04/17/24 and a 52-week low of $2.00 on 09/26/24. A 50-day SMA is recorded $2.51, while a 200-day SMA reached $3.70. Nevertheless, trading volume fell to 0.53 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Rani Therapeutics Holdings Inc (RANI)
According to the 24-hour chart, there is a support level at 2.28, which, if violated, would cause prices to drop to 2.24. In the upper region, resistance lies at 2.36. The next price resistance is at 2.40. RSI (Relative Strength Index) is 47.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 82.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
