Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Sees Large Increase in Short Interest

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,810,000 shares, an increase of 48.7% from the January 31st total of 1,890,000 shares. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 2.8 days. Approximately 12.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts have weighed in on RANI shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a report on Friday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.33.

Insider Activity at Rani Therapeutics

In other news, insider Kate Mckinley purchased 17,960 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the acquisition, the insider now owns 17,960 shares in the company, valued at $29,993.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 53.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics during the 4th quarter worth approximately $37,000. Virtu Financial LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter worth $62,000. Insigneo Advisory Services LLC bought a new stake in Rani Therapeutics during the 4th quarter valued at $65,000. Two Sigma Advisers LP purchased a new stake in Rani Therapeutics during the 4th quarter valued at $151,000. Finally, King Luther Capital Management Corp grew its holdings in Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Trading Down 3.9 %

Shares of RANI traded down $0.06 during mid-day trading on Monday, reaching $1.47. The company’s stock had a trading volume of 462,804 shares, compared to its average volume of 1,277,601. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. Rani Therapeutics has a 52 week low of $1.24 and a 52 week high of $8.75. The company’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $2.03. The stock has a market cap of $84.21 million, a PE ratio of -1.39 and a beta of 0.16.

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.