Rani Therapeutics (NASDAQ:RANI) Shares Climb 1.5% – Still a Buy?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)’s stock price shot up 1.5% during trading on Thursday. The company traded as high as $0.6943 and last traded at $0.68. 450,210 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 572,240 shares. The stock had previously closed at $0.6702.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Chardan Capital raised shares of Rani Therapeutics to a “strong-buy” rating in a research note on Wednesday, August 26th. HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Rani Therapeutics in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Rani Therapeutics Stock Down 5.8%

The firm has a fifty day moving average price of $0.81 and a 200 day moving average price of $0.83. The company has a market cap of $89.30 million, a P/E ratio of -2.37 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.71 million during the quarter, compared to analyst estimates of $0.93 million. On average, sell-side analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its stake in shares of Rani Therapeutics by 155.5% in the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after acquiring an additional 25,501 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Rani Therapeutics during the second quarter worth approximately $5,703,000. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Rani Therapeutics by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after purchasing an additional 10,347 shares in the last quarter. Institutional investors and hedge funds own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company’s platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.