Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Average Price Target from Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment 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 objective among analysts that have issued ratings on the stock in the last year is $11.71.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th.

Rani Therapeutics Price Performance

Shares of RANI opened at $1.42 on Friday. The firm’s fifty day simple moving average is $2.12 and its 200-day simple moving average is $2.70. The firm has a market capitalization of $81.35 million, a price-to-earnings ratio of -1.34 and a beta of 0.05. Rani Therapeutics has a twelve month low of $1.30 and a twelve month high of $8.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insiders Place Their Bets

In other news, insider Kate Mckinley acquired 17,960 shares of Rani Therapeutics stock in a transaction that occurred on Friday, December 13th. The shares were acquired 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 owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. This represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 8,302,194 shares in the company, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their position. The disclosure for this sale can be found here. 53.30% of the stock is currently owned by company insiders.

Institutional Trading of Rani Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics during the second quarter worth $81,000. King Luther Capital Management Corp raised its position 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 valued at $175,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after buying an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of Rani Therapeutics by 100.4% during 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 in the last quarter. 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.