Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock Position Lifted by King Luther Capital Management Corp

King Luther Capital Management Corp grew its position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 44.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,129 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. King Luther Capital Management Corp owned approximately 0.15% of Rani Therapeutics worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Marshall Wace LLP acquired a new stake in shares of Rani Therapeutics during the 2nd quarter worth approximately $81,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Trading Up 2.0 %

Shares of NASDAQ:RANI opened at $2.08 on Monday. Rani Therapeutics Holdings, Inc. has a twelve month low of $1.90 and a twelve month high of $8.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. The firm has a market cap of $119.16 million, a P/E ratio of -1.96 and a beta of 0.11. The company has a 50 day moving average of $2.33 and a 200-day moving average of $3.21.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now directly owns 8,302,194 shares of the company’s stock, valued at approximately $22,000,814.10. This represents a 31.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Oppenheimer started coverage on Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $11.71.

Rani Therapeutics Profile

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.