King Luther Capital Management Corp Trims Stock Position in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)

King Luther Capital Management Corp decreased its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 59.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the company’s stock after selling 48,129 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of Rani Therapeutics worth $45,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stifel Financial Corp grew 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 valued at $583,000 after buying an additional 135,148 shares during the period. Geode Capital Management LLC grew its position in Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Trading Up 3.4 %

NASDAQ RANI opened at $1.51 on Friday. The stock has a market cap of $86.51 million, a price-to-earnings ratio of -1.42 and a beta of 0.14. Rani Therapeutics Holdings, Inc. has a twelve month low of $1.24 and a twelve month high of $8.75. 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 firm’s 50 day moving average price is $1.49 and its two-hundred day moving average price is $1.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RANI shares. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Friday, February 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rani Therapeutics has a consensus rating of “Buy” and an average price target of $12.33.

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.