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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.71.

A number of research firms recently issued reports on RANI. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Oppenheimer started coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target for the company.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics 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 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 of the company’s stock, valued at approximately $22,000,814.10. This trade represents a 31.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 16,956 shares during the period. 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 purchasing an additional 135,148 shares during the last quarter. Geode Capital Management LLC grew 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 period. King Luther Capital Management Corp increased its holdings 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 buying an additional 25,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Rani Therapeutics in the 2nd quarter worth $81,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Stock Up 1.5 %

Shares of NASDAQ RANI opened at $2.02 on Monday. The firm’s 50-day moving average is $2.31 and its two-hundred day moving average is $3.13. The company has a market capitalization of $115.73 million, a PE ratio of -1.91 and a beta of 0.11. Rani Therapeutics has a 12-month low of $1.90 and a 12-month high of $8.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60.

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.