Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Average Rating of “Buy” from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.71.

Several research firms have commented on RANI. Oppenheimer initiated coverage on shares of Rani Therapeutics in a research report on Friday, August 2nd. They set an “outperform” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Tuesday, November 19th.

Rani Therapeutics Trading Up 2.0 %

Shares of NASDAQ RANI opened at $2.08 on Monday. Rani Therapeutics has a 1-year low of $1.90 and a 1-year high of $8.75. The business has a fifty day moving average price of $2.33 and a 200 day moving average price of $3.21. The stock has a market capitalization of $119.16 million, a P/E ratio of -1.96 and a beta of 0.11. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Transactions at Rani Therapeutics

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the sale, the insider now directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This represents a 31.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

Large investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Rani Therapeutics in the second quarter valued at approximately $81,000. Vanguard Group Inc. lifted its position in shares of Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after buying an additional 16,956 shares in the last quarter. Geode Capital Management LLC grew its stake in Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the period. Stifel Financial Corp increased its holdings in Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after acquiring an additional 135,148 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Rani Therapeutics by 44.5% during the third 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 period. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Company 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.