Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Average PT from Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.71.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th.

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $1.42 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $81.35 million, a price-to-earnings ratio of -1.34 and a beta of 0.05. Rani Therapeutics has a one year low of $1.30 and a one year high of $8.75. The stock has a 50-day simple moving average of $2.12 and a 200 day simple moving average of $2.70.

Insider Activity at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kate Mckinley acquired 17,960 shares of the company’s stock in a transaction on Friday, December 13th. The stock was bought at an average price 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 approximately $29,993.20. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 53.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RANI. Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the second quarter worth $81,000. King Luther Capital Management Corp increased its position in Rani Therapeutics by 44.5% in the 3rd 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 last quarter. Stifel Financial Corp raised its stake in shares of Rani Therapeutics by 100.4% during the 3rd 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. Finally, Geode Capital Management LLC lifted its holdings in shares of Rani Therapeutics by 14.3% during 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 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.