Stifel Financial Corp Raises Holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)

Stifel Financial Corp raised its stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 100.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 269,768 shares of the company’s stock after buying an additional 135,148 shares during the quarter. Stifel Financial Corp’s holdings in Rani Therapeutics were worth $583,000 at the end of the most recent reporting period.

Separately, Marshall Wace LLP acquired a new position in Rani Therapeutics in the 2nd quarter valued at about $81,000. 30.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research report on Tuesday, November 19th. Six investment 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, Rani Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.42 on Friday. Rani Therapeutics Holdings, Inc. has a 1-year low of $1.30 and a 1-year high of $8.75. The business’s 50-day simple moving average is $2.06 and its 200-day simple moving average is $2.66. The firm has a market capitalization of $81.35 million, a P/E ratio of -1.34 and a beta of 0.05. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of Rani Therapeutics stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the purchase, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the completion of the sale, the insider now directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. The trade was a 31.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 53.30% of the company’s stock.

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.