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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.71.

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

Rani Therapeutics Stock Down 2.3 %

Shares of NASDAQ RANI opened at $1.30 on Friday. The stock has a market capitalization of $74.48 million, a PE ratio of -1.23 and a beta of 0.05. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The firm has a fifty day moving average of $2.17 and a 200-day moving average of $2.78. Rani Therapeutics has a 52-week low of $1.30 and a 52-week high of $8.75.

Insiders Place Their Bets

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kate Mckinley acquired 17,960 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the acquisition, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 53.30% of the stock is owned by company insiders.

Institutional Trading of Rani Therapeutics

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after acquiring an additional 135,148 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rani Therapeutics by 14.3% during the third 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 during the last quarter. Finally, Marshall Wace LLP acquired a new position in Rani Therapeutics in the second quarter worth about $81,000. 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.