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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.33.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research report on Friday.

Rani Therapeutics Stock Down 7.9 %

Shares of Rani Therapeutics stock opened at $1.52 on Friday. Rani Therapeutics has a 1-year low of $1.24 and a 1-year high of $8.75. The company has a market capitalization of $87.08 million, a PE ratio of -1.43 and a beta of 0.16. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50-day moving average of $1.50 and a 200-day moving average of $2.15.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the purchase, the insider now directly owns 17,960 shares in the company, valued at approximately $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics in the fourth quarter worth about $37,000. Marshall Wace LLP bought a new stake in shares of Rani Therapeutics in the 2nd quarter worth approximately $81,000. King Luther Capital Management Corp boosted its position in Rani Therapeutics by 44.5% during 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 during the period. Geode Capital Management LLC grew its stake in Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after buying an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp increased its position in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after buying an additional 135,148 shares during the period. 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 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.