Insider Buying: Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Insider Buys 17,960 Shares of Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) insider Kate Mckinley acquired 17,960 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $1.67 per share, with a total value of $29,993.20. Following the transaction, the insider now owns 17,960 shares in the company, valued at $29,993.20. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rani Therapeutics Stock Down 8.9 %

Shares of RANI opened at $1.33 on Thursday. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $8.75. The company’s fifty day moving average is $2.19 and its two-hundred day moving average is $2.79. The firm has a market cap of $76.19 million, a PE ratio of -1.25 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.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RANI. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics in the 2nd quarter valued at about $81,000. King Luther Capital Management Corp grew its stake 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 buying an additional 25,000 shares during the period. Geode Capital Management LLC increased its position in shares of Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after acquiring an additional 21,527 shares in the last quarter. Stifel Financial Corp raised its stake in shares of 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 acquiring an additional 135,148 shares during the period. Finally, Vanguard Group Inc. boosted its position in Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after purchasing an additional 16,956 shares during the period. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.71.

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.