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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have received a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat.com 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 1 year price objective among brokers that have issued a report on the stock in the last year is $11.71.

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

Insider Buying and Selling at Rani Therapeutics

In related news, insider Kate Mckinley bought 17,960 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the acquisition, the insider now owns 17,960 shares in the company, valued at $29,993.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Rani Therapeutics during the 2nd quarter valued at $81,000. King Luther Capital Management Corp boosted its position 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 valued at $175,000 after buying an additional 25,000 shares during the last quarter. Stifel Financial Corp grew its stake 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 valued at $583,000 after acquiring an additional 135,148 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Rani Therapeutics by 14.3% during 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 last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $1.42 on Friday. The firm’s 50-day simple moving average is $2.06 and its 200-day simple moving average is $2.66. 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 has a 1-year low of $1.30 and a 1-year high of $8.75. The firm has a market cap of $81.35 million, a P/E ratio of -1.34 and a beta of 0.05.

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.