Rani Therapeutics (NASDAQ:RANI) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Separately, Oppenheimer began coverage on Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rani Therapeutics has an average rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Price Performance

RANI opened at $2.08 on Tuesday. The company has a market capitalization of $111.09 million, a P/E ratio of -1.96 and a beta of 0.11. The company has a 50-day moving average of $2.33 and a 200-day moving average of $3.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. Rani Therapeutics has a 1-year low of $1.90 and a 1-year high of $8.75.

Insider Buying and Selling at Rani Therapeutics

In other news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 of the company’s stock, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 53.30% of the stock is owned by corporate insiders.

Institutional Trading of Rani Therapeutics

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased 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 worth $2,131,000 after acquiring an additional 16,956 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Rani Therapeutics by 100.4% in the third 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 period. Geode Capital Management LLC increased its holdings in 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 period. King Luther Capital Management Corp lifted its stake in Rani Therapeutics by 44.5% during the third 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. Finally, Marshall Wace LLP acquired a new position in Rani Therapeutics during the second quarter worth $81,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.