Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Holdings Raised by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 44.5% in the third quarter, Holdings Channel.com reports. The fund owned 81,129 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. King Luther Capital Management Corp’s holdings in Rani Therapeutics were worth $175,000 as of its most recent SEC filing.

Separately, 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 purchasing an additional 16,956 shares during the period. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Insider Activity

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 completion of the transaction, the insider now owns 8,302,194 shares in the company, valued at approximately $22,000,814.10. The trade was a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 53.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on RANI shares. Oppenheimer started coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rani Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.71.

Rani Therapeutics Stock Performance

Shares of NASDAQ:RANI opened at $2.08 on Monday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The business’s fifty day moving average price is $2.33 and its two-hundred day moving average price is $3.21. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $8.75. The stock has a market capitalization of $119.16 million, a price-to-earnings ratio of -1.96 and a beta of 0.11.

Rani Therapeutics 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.