RANI THERAPEUTICS HLDGS INC RANI
COM CL A · Common Stock · CUSIP 753018100
- SectorHealth care
- IndustryPharmaceutical Preparations
- HeadquartersSan Jose, CA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $0.73. Options: 5 managers hold calls ($3.5m notional), 2 hold puts ($34.5k).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 33 |
| Q4 2022 | 35 |
| Q1 2023 | 37 |
| Q2 2023 | 36 |
| Q3 2023 | 35 |
| Q4 2023 | 35 |
| Q1 2024 | 38 |
| Q2 2024 | 36 |
| Q3 2024 | 32 |
| Q4 2024 | 44 |
| Q1 2025 | 39 |
| Q2 2025 | 40 |
| Q3 2025 | 38 |
| Q4 2025 | 64 |
| Q1 2026 | 75 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 12 | 14 |
| Q3 2024 | 12 | 12 |
| Q4 2024 | 19 | 11 |
| Q1 2025 | 14 | 13 |
| Q2 2025 | 11 | 13 |
| Q3 2025 | 15 | 14 |
| Q4 2025 | 51 | 9 |
| Q1 2026 | 32 | 22 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $51.3k | $0 | 0.00 |
| Q3 2025 | $8.3k | $0 | 0.00 |
| Q4 2025 | $12.7m | $292.8k | 0.02 |
| Q1 2026 | $3.5m | $34.5k | 0.01 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | Added | +242.4k |
| Longaeva Partners L.P. | Added | +216.0k |
| JANE STREET GROUP, LLC | New | +165.6k |
| Hudson Bay Capital Management LP | New | +153.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +131.4k |
| Cygnus Capital Advisors, LLC | New | +115.6k |
| GSA CAPITAL PARTNERS LLP | New | +97.0k |
| UBS Group AG | Added | +75.7k |
| NINE MASTS CAPITAL Ltd | New | +44.8k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +42.4k |
Biggest sellers
| SymBiosis Capital Partners, LLC | Reduced | -2.6m |
| Squarepoint Ops LLC | Reduced | -328.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -274.0k |
| Qube Research & Technologies Ltd | Reduced | -100.7k |
| Virtu Financial LLC | Sold out | -51.2k |
| CITIGROUP INC | Reduced | -50.4k |
| Lighthouse Investment Partners, LLC | Sold out | -42.8k |
| BANK OF AMERICA CORP /DE/ | Sold out | -36.6k |
| TWO SIGMA SECURITIES, LLC | Sold out | -35.9k |
| Prime Capital Investment Advisors, LLC | Reduced | -15.7k |
Biggest calls
| GROUP ONE TRADING LLC | Reduced | $2.2m3.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $877.8k1.2m shares |
| CITADEL ADVISORS LLC | Added | $203.2k276.6k shares |
| JANE STREET GROUP, LLC | Reduced | $123.7k168.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $88.3k120.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $34.4k47.1k shares |
| GROUP ONE TRADING LLC | Reduced | $147200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
InCube Labs, L.L.C.
13D · may seek influence
filed 2025-10-27
Stated purposeThe information set forth in Item 1 and Item 3 of this Amendment No. 1 is incorporate herein by reference. Item 4 of the Statement is hereby amended and supplemented as follows: In connection with a private placement, as promptly as possible following the closing, but in no event later than ninety (90) days following the closing date, the Issuer has agreed to use reasonable best efforts to: (a) amend the Issuer's Amended and Restated Certificate of Incorporation to, among other things, effect the following: (i) reduce the number of votes to which each share of Class B Common Stock is entitled from ten (10) votes to one (1) vote, (ii) eliminate the ability of the Issuer's stockholders to act by written consent, and (iii) include additional stockholder protective provisions (not including … Full filing |
22.1% |
| Invus Global Management, LLC 13G · passive investor new · filed 2025-10-23 | 10.0% |
| ARMISTICE CAPITAL, LLC 13G · institution filed 2025-08-15 | 9.9% |
| RA CAPITAL MANAGEMENT, L.P. 13G · passive investor no change · filed 2026-08-14 | 9.9% |
| Samsara BioCapital, L.P. 13D · may seek influence no change · filed 2026-05-28 | 9.9% |
| AWM Investment Company, Inc. 13G · institution new · filed 2026-02-13 | 9.9% |
Fell to 5% or below in the last year: VANGUARD CAPITAL MANAGEMENT LLC (4.5%, 2026-07-31), SymBiosis Capital Partners, LLC (4.4%, 2026-05-15), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 2 | $50.0k | 1 | $11.3k | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 1 | $1.3m | 0 | — | — |
| Q1 2026 | 0 | — | 1 | $301 | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-03-27 | Javadi Alireza Chief Technical Officer | Sold | $301386 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| RA CAPITAL MANAGEMENT, L.P. 0.07% of their portfolio | 8.5m $6.2m | Unchanged |
| SAMSARA BIOCAPITAL, LLC 0.61% of their portfolio | 8.5m $6.2m | Unchanged |
| AWM Investment Company, Inc. 0.53% of their portfolio | 6.5m $4.8m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.6m $3.4m | First filing |
| SymBiosis Capital Partners, LLC 5.11% of their portfolio | 3.7m $2.7m | Reduced -2.6m |
| Longaeva Partners L.P. 0.08% of their portfolio | 2.3m $1.7m | Added +216.0k |
| Siren, L.L.C. 0.04% of their portfolio | 2.0m $1.5m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 903.3k $664.1k | Added +42.4k |
| BlackRock, Inc. 0.00% of their portfolio | 556.9k $409.2k | Added +29.2k |
| Nan Fung Group Holdings Ltd 0.30% of their portfolio | 493.6k $362.7k | Unchanged |
| 683 Capital Management, LLC 0.03% of their portfolio | 487.2k $358.0k | Unchanged |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 455.1k $334.5k | First filing |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 405.7k $298.1k | Added +242.4k |
| STATE STREET CORP 0.00% of their portfolio | 373.1k $274.2k | Reduced -13.9k |
| UNITED SERVICES AUTOMOBILE ASSOCIATION 0.03% of their portfolio | 302.7k $222.5k | Unchanged |
| KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio | 265.2k $194.8k | Added +10.3k |
| UBS Group AG 0.00% of their portfolio | 227.2k $167.0k | Added +75.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 188.2k $138.3k | Added +131.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 170.5k $125.3k | Unchanged |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 165.6k $121.7k | New |
| Hudson Bay Capital Management LP 0.00% of their portfolio | 153.3k $112.7k | New |
| CWA Asset Management Group, LLC 0.00% of their portfolio | 150.0k $110.2k | Unchanged |
| Cygnus Capital Advisors, LLC 0.06% of their portfolio | 115.6k $85.0k | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 114.5k $84.1k | Unchanged |
| GSA CAPITAL PARTNERS LLP 0.00% of their portfolio | 97.0k $71.0k | New |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 0.00% of their portfolio | 78.0k $57.3k | Unchanged |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 76.5k $56.2k | Added +7.3k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio | 58.0k $42.6k | Unchanged |
| Well Done, LLC 0.01% of their portfolio | 52.0k $38.2k | Unchanged |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 49.2k $36.0k | Unchanged |
| MOTCO 0.00% of their portfolio | 48.1k $35.4k | Unchanged |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 47.5k $34.9k | Reduced -100.7k |
| NINE MASTS CAPITAL Ltd 0.01% of their portfolio | 44.8k $33.0k | New |
| Diametric Capital, LP 0.01% of their portfolio | 33.2k $24.4k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 31.8k $23.3k | First filing |
| Unique Wealth Strategies, LLC 0.01% of their portfolio | 24.6k $18.1k | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 24.4k $17.9k | Reduced -4.3k |
| CTC Alternative Strategies, Ltd. 0.04% of their portfolio | 23.6k $17.4k | New |
| Brevan Howard Capital Management LP 0.00% of their portfolio | 23.3k $17.1k | New |
| Lafayette Investments, Inc. 0.00% of their portfolio | 23.0k $16.9k | Unchanged |
| Jefferies Financial Group Inc. 0.00% of their portfolio | 22.2k $16.3k | Reduced -7.6k |
| TRAPHAGEN INVESTMENT ADVISORS LLC 0.00% of their portfolio | 22.0k $16.2k | New |
| Cerity Partners LLC 0.00% of their portfolio | 19.1k $14.0k | Added +9.1k |
| China Universal Asset Management Co., Ltd. 0.00% of their portfolio | 17.3k $12.7k | Added +1.4k |
| Squarepoint Ops LLC 0.00% of their portfolio | 16.4k $12.1k | Reduced -328.0k |
| Bronte Capital Management Pty Ltd. 0.00% of their portfolio | 14.9k $10.9k | Unchanged |
| ACT Advisors, LLC. 0.00% of their portfolio | 14.8k $10.9k | Reduced -1.3k |
| Catalyst Funds Management Pty Ltd 0.00% of their portfolio | 14.8k $10.9k | New |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 14.3k $10.5k | Added +562 |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 14.2k $10.4k | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 13.9k $10.2k | New |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 13.8k $11.1k | Unchanged |
| CLEAR WAVE WEALTH MANAGEMENT LLC 0.00% of their portfolio | 13.2k $9.7k | First filing |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 12.3k $9.1k | Added +4.6k |
| Disciplined Investors, L.L.C. 0.01% of their portfolio | 12.2k $9.0k | Unchanged |
| Sanctuary Advisors, LLC 0.00% of their portfolio | 12.0k $8.8k | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 11.8k $8.7k | Reduced -274.0k |
| Prime Capital Investment Advisors, LLC 0.00% of their portfolio | 11.5k $8.4k | Reduced -15.7k |
| EWA, LLC 0.00% of their portfolio | 10.8k $7.9k | Reduced -264 |
| CARY STREET PARTNERS FINANCIAL LLC 0.00% of their portfolio | 10.6k $7.8k | Unchanged |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 10.5k $7.7k | New |
| BARCLAYS PLC 0.00% of their portfolio | 10.2k $7.5k | Added +2.1k |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 10.1k $7.4k | New |
| ISLAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 9.6k $7.1k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 7.3k $5.6k | Reduced -521 |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 5.9k $4.3k | Reduced -8.8k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 5.1k $3.7k | Added +348 |
| Allworth Financial LP 0.00% of their portfolio | 3.1k $2.3k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 2.7k $2.0k | Reduced -50.4k |
| GF FUND MANAGEMENT CO. LTD. 0.00% of their portfolio | 2.2k $1.6k | Added +318 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 1.5k $1.1k | Reduced -73 |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 1.0k $810 | Unchanged |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 799 $587 | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 132 $0 | Added +5 |
| Activest Wealth Management 0.00% of their portfolio | 0 $0 | New |