Rani Therapeutics (NASDAQ:RANI) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $9.00 target price on the stock.

Separately, Oppenheimer assumed coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Stock Performance

Shares of NASDAQ RANI opened at $2.03 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $108.42 million, a P/E ratio of -1.92 and a beta of 0.11. Rani Therapeutics has a 12 month low of $1.90 and a 12 month high of $8.75. The stock has a 50 day moving average of $2.34 and a 200-day moving average of $3.31.

Insider Transactions at Rani Therapeutics

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm’s stock in a transaction dated 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. This trade represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RANI. Marshall Wace LLP acquired a new stake in shares of Rani Therapeutics in the second quarter valued at approximately $81,000. King Luther Capital Management Corp raised its holdings 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 valued at $175,000 after acquiring an additional 25,000 shares in the last quarter. Geode Capital Management LLC lifted its position 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 acquiring an additional 21,527 shares during the period. Stifel Financial Corp grew its holdings 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, Vanguard Group Inc. increased its position 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. Institutional investors and hedge funds own 30.19% 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.