Rani Therapeutics (NASDAQ:RANI – Free Report) had its price target lowered by Canaccord Genuity Group from $21.00 to $9.00 in a research note released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.
A number of other equities analysts also recently weighed in on RANI. HC Wainwright cut their price target on shares of Rani Therapeutics from $16.00 to $12.00 and set a buy rating on the stock in a research note on Monday. Wedbush reissued an outperform rating and issued a $8.00 price objective on shares of Rani Therapeutics in a research report on Tuesday, February 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rani Therapeutics currently has an average rating of Buy and a consensus price target of $14.00.
View Our Latest Analysis on Rani Therapeutics
Rani Therapeutics Stock Performance
Institutional Investors Weigh In On Rani Therapeutics
Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Rani Therapeutics by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 97,185 shares of the company’s stock worth $573,000 after acquiring an additional 2,653 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Rani Therapeutics by 7.1% in the 1st quarter. Renaissance Technologies LLC now owns 41,117 shares of the company’s stock worth $212,000 after buying an additional 2,717 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Rani Therapeutics by 83.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,048 shares of the company’s stock worth $29,000 after buying an additional 3,211 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rani Therapeutics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock worth $3,916,000 after buying an additional 4,561 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Rani Therapeutics by 352.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,525 shares of the company’s stock worth $27,000 after buying an additional 5,082 shares during the last quarter. 30.19% of the stock is 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. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.
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