Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Consensus Rating of “Buy” by Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $11.71.

RANI has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a report on Tuesday, November 19th. Oppenheimer started coverage on Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective for the company.

Insider Activity

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. This trade represents a 31.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 53.30% of the company’s stock.

Institutional Trading of Rani Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of Rani Therapeutics during the second quarter valued at approximately $81,000. Vanguard Group Inc. boosted its holdings in Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after acquiring an additional 16,956 shares during the period. Geode Capital Management LLC grew its position in Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the last quarter. Stifel Financial Corp increased its stake 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 purchasing an additional 135,148 shares during the period. Finally, King Luther Capital Management Corp lifted its position in shares of Rani Therapeutics by 44.5% during the third 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 last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

Rani Therapeutics Stock Performance

Shares of NASDAQ RANI opened at $2.08 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. Rani Therapeutics has a 12-month low of $1.90 and a 12-month high of $8.75. The firm has a market capitalization of $119.16 million, a price-to-earnings ratio of -1.96 and a beta of 0.11. The firm has a 50 day moving average of $2.33 and a 200 day moving average of $3.21.

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.