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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.71.

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research report on Tuesday, November 19th.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock opened at $1.42 on Friday. The company has a market cap of $81.35 million, a P/E ratio of -1.34 and a beta of 0.05. The firm has a fifty day moving average of $2.06 and a two-hundred day moving average of $2.66. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. Rani Therapeutics has a one year low of $1.30 and a one year high of $8.75.

Insider Buying and Selling at Rani Therapeutics

In other news, insider Kate Mckinley purchased 17,960 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $1.67 per share, with a total value of $29,993.20. Following the purchase, the insider now directly owns 17,960 shares of the company’s stock, valued at $29,993.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’s 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 transaction, the insider now owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RANI. Marshall Wace LLP purchased a new position in Rani Therapeutics during the second quarter worth $81,000. Geode Capital Management LLC increased its position in Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after purchasing an additional 21,527 shares in the last quarter. King Luther Capital Management Corp increased its position in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares during the last quarter. 30.19% of the stock is currently owned by institutional investors and hedge funds.

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.