Rani Therapeutics’ (RANI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $9.00 target price on the stock.

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

Rani Therapeutics Price Performance

Shares of RANI stock opened at $2.03 on Tuesday. The company has a quick ratio of 1.60, a current 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 fifty day moving average of $2.34 and a 200-day moving average of $3.31. The firm has a market capitalization of $108.42 million, a price-to-earnings ratio of -1.92 and a beta of 0.11.

Insider Activity at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the completion of the transaction, the insider now owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. This represents a 31.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Rani Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in shares of Rani Therapeutics in the second quarter valued at about $81,000. King Luther Capital Management Corp increased its position in shares of Rani Therapeutics by 44.5% during 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 21,527 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Rani Therapeutics by 100.4% in the 3rd 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 during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after buying an additional 16,956 shares in the last quarter. 30.19% of the stock is owned by institutional investors.

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.