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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have received a consensus rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.33.

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research note on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research report on Friday, February 7th.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley purchased 17,960 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 17,960 shares in the company, valued at approximately $29,993.20. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings 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 worth $372,000 after acquiring an additional 21,527 shares during the period. King Luther Capital Management Corp boosted its stake in 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. Janney Montgomery Scott LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at about $37,000. Virtu Financial LLC bought a new stake in shares of Rani Therapeutics during the fourth quarter valued at about $62,000. Finally, Insigneo Advisory Services LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter worth about $65,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Stock Performance

Shares of Rani Therapeutics stock opened at $1.43 on Wednesday. The firm has a market capitalization of $81.92 million, a P/E ratio of -1.35 and a beta of 0.16. 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 fifty day simple moving average is $1.48 and its 200 day simple moving average is $2.01. Rani Therapeutics has a 12 month low of $1.24 and a 12 month high of $8.75.

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.