Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) dropped 4.3% on Wednesday . The company traded as low as $2.07 and last traded at $2.21. Approximately 69,824 shares traded hands during trading, a decline of 25% from the average daily volume of 93,239 shares. The stock had previously closed at $2.31.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on RANI shares. HC Wainwright reduced their target price on shares of Rani Therapeutics from $13.00 to $9.00 and set a “buy” rating for the company in a report on Friday, August 16th. Rodman & Renshaw started coverage on shares of Rani Therapeutics in a research report on Thursday, June 13th. They set a “buy” rating and a $10.00 price objective on the stock. Oppenheimer began coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 target price on the stock. Finally, Maxim Group started coverage on Rani Therapeutics in a research note on Friday, June 14th. They issued a “buy” rating and a $15.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $11.71.
View Our Latest Stock Report on Rani Therapeutics
Rani Therapeutics Stock Performance
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. As a group, equities research analysts expect that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current year.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Rani Therapeutics stock. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,247 shares of the company’s stock, valued at approximately $81,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.
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.
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