Rani Therapeutics (NASDAQ:RANI) Shares Gap Up to $19.56

Rani Therapeutics Holdings Inc (NASDAQ:RANI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $19.56, but opened at $19.98. Rani Therapeutics shares last traded at $19.95, with a volume of 891 shares traded.

Separately, Zacks Investment Research upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, January 8th. One investment analyst has rated the stock with a hold rating and five have issued a 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 $25.40.

The stock’s fifty day moving average price is $22.76.

Rani Therapeutics (NASDAQ:RANI) last released its earnings results on Monday, November 15th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. On average, equities analysts forecast that Rani Therapeutics Holdings Inc will post -0.99 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG acquired a new stake in Rani Therapeutics during the third quarter worth about $55,000. Geode Capital Management LLC acquired a new stake in Rani Therapeutics during the third quarter valued at approximately $385,000. Millennium Management LLC acquired a new stake in Rani Therapeutics during the third quarter valued at approximately $517,000. Squarepoint Ops LLC acquired a new stake in Rani Therapeutics during the third quarter valued at approximately $891,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Rani Therapeutics during the third quarter valued at approximately $1,081,000.

About Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics Holdings Inc is a clinical stage biotherapeutics company. It focused on advancing technologies to enable the development of orally administered biologics. Rani Therapeutics Holdings Inc is based in SAN JOSE, Calif.

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