Rani Therapeutics (NASDAQ:RANI) Rating Reiterated by HC Wainwright

HC Wainwright reissued their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report published on Friday, MarketBeat Ratings reports. The firm currently has a $9.00 target price on the stock.

Separately, Oppenheimer assumed coverage on shares of Rani Therapeutics in a research report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rani Therapeutics has a consensus rating of “Buy” and an average price target of $11.71.

Rani Therapeutics Stock Down 4.1 %

RANI stock opened at $2.57 on Friday. The company has a fifty day moving average price of $2.57 and a 200 day moving average price of $3.86. Rani Therapeutics has a 12 month low of $1.82 and a 12 month high of $8.75. The company has a market cap of $129.58 million, a price-to-earnings ratio of -1.99 and a beta of 0.12. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.93 and a quick ratio of 1.93.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.03. Sell-side analysts expect that Rani Therapeutics will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the company’s stock in a transaction on 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 directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

An institutional investor recently raised its position in Rani Therapeutics stock. Vanguard Group Inc. boosted its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 685,303 shares of the company’s stock after acquiring an additional 16,956 shares during the period. Vanguard Group Inc. owned 1.37% of Rani Therapeutics worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission. 30.19% of the stock is currently owned by institutional investors.

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.