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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.71.

Several research firms have recently weighed in on RANI. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th. Oppenheimer assumed coverage on shares of Rani Therapeutics in a research report on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective on the stock.

Rani Therapeutics Stock Up 1.5 %

Shares of NASDAQ RANI opened at $2.02 on Monday. The business has a 50-day moving average price of $2.31 and a 200 day moving average price of $3.13. The stock has a market cap of $115.73 million, a PE ratio of -1.91 and a beta of 0.11. 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 52-week low of $1.90 and a 52-week high of $8.75.

Insider Buying and Selling at Rani Therapeutics

In other Rani Therapeutics 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 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 owns 8,302,194 shares of the company’s stock, valued at approximately $22,000,814.10. The trade was a 31.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors have recently made changes to their positions in RANI. Marshall Wace LLP purchased a new stake in Rani Therapeutics during the second quarter worth about $81,000. Vanguard Group Inc. boosted its stake in shares of Rani Therapeutics by 2.5% during the 1st 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 in the last quarter. King Luther Capital Management Corp boosted its stake 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 acquiring an additional 25,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 purchasing an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Rani Therapeutics by 100.4% during the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after purchasing an additional 135,148 shares in the last quarter. 30.19% of the stock is currently owned by hedge funds and other 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.