Talat Imran Purchases 10,296 Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) CEO Talat Imran acquired 10,296 shares of Rani Therapeutics stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $1.94 per share, for a total transaction of $19,974.24. Following the completion of the transaction, the chief executive officer now directly owns 494,751 shares in the company, valued at $959,816.94. This trade represents a 2.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rani Therapeutics Stock Down 1.6 %

Shares of RANI stock traded down $0.03 during mid-day trading on Tuesday, hitting $1.90. The stock had a trading volume of 379,863 shares, compared to its average volume of 545,957. Rani Therapeutics Holdings, Inc. has a 12-month low of $1.85 and a 12-month high of $8.75. 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 firm’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.93. The firm has a market capitalization of $108.85 million, a P/E ratio of -1.83 and a beta of 0.05.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a report on Tuesday, November 19th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.71.

Institutional Investors Weigh In On Rani Therapeutics

Large investors have recently modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the second quarter valued at about $81,000. King Luther Capital Management Corp lifted its stake in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares during the period. Geode Capital Management LLC grew its position in Rani Therapeutics by 14.3% during the 3rd 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 period. Stifel Financial Corp lifted its holdings in 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 acquiring an additional 135,148 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after buying an additional 16,956 shares in the last quarter. 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.