Rani Therapeutics (NASDAQ:RANI) Earns Buy Rating from Canaccord Genuity Group

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a research report issued on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research report on Friday, February 7th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.33.

Rani Therapeutics Trading Down 2.6 %

RANI stock opened at $1.50 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. Rani Therapeutics has a 1-year low of $1.24 and a 1-year high of $8.75. The business has a 50 day simple moving average of $1.47 and a two-hundred day simple moving average of $2.05. The company has a market capitalization of $85.93 million, a price-to-earnings ratio of -1.42 and a beta of 0.16.

Insider Activity

In other Rani Therapeutics news, insider Kate Mckinley purchased 17,960 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the purchase, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new position in shares of Rani Therapeutics in the 4th quarter valued at about $37,000. Virtu Financial LLC purchased a new stake in Rani Therapeutics during the fourth quarter valued at approximately $62,000. Insigneo Advisory Services LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at approximately $65,000. King Luther Capital Management Corp boosted its holdings in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after purchasing an additional 25,000 shares during the period. Finally, Two Sigma Advisers LP bought a new position in shares of Rani Therapeutics during the 4th quarter valued at approximately $151,000. 30.19% of the stock is owned by hedge funds and other institutional investors.

About Rani Therapeutics

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.