Rani Therapeutics (NASDAQ:RANI) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report released on Tuesday morning,Benzinga reports. They currently have a $9.00 price objective on the stock.

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

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $2.08 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. The business’s 50 day moving average is $2.33 and its two-hundred day moving average is $3.27. The company has a market capitalization of $111.09 million, a P/E ratio of -1.96 and a beta of 0.11. Rani Therapeutics has a 12-month low of $1.90 and a 12-month high of $8.75.

Insider Buying and Selling

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the sale, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 53.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Rani Therapeutics by 2.5% during the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after buying an additional 16,956 shares during the period. Stifel Financial Corp increased its position in shares of Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after buying an additional 135,148 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares during the last quarter. King Luther Capital Management Corp lifted its position in shares of Rani Therapeutics by 44.5% in the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the second quarter worth about $81,000. 30.19% of the stock is currently 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.