Rani Therapeutics (NASDAQ:RANI) Receives “Buy” Rating from HC Wainwright

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 445.45% from the stock’s previous close.

Rani Therapeutics Stock Performance

Shares of RANI opened at $1.65 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. Rani Therapeutics has a twelve month low of $1.24 and a twelve month high of $8.75. The firm’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $2.16. The firm has a market cap of $94.53 million, a P/E ratio of -1.56 and a beta of 0.16.

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley acquired 17,960 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the transaction, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 53.30% of the stock is currently owned by insiders.

Institutional Trading of Rani Therapeutics

A number of institutional investors have recently made changes to their positions in RANI. Janney Montgomery Scott LLC bought a new stake in shares of Rani Therapeutics in the fourth quarter worth $37,000. Marshall Wace LLP bought a new stake in shares of Rani Therapeutics in the second quarter worth $81,000. King Luther Capital Management Corp lifted its position in shares of Rani Therapeutics by 44.5% in the third 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 in the last quarter. Geode Capital Management LLC increased its holdings in Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after buying an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Rani Therapeutics by 100.4% during the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after buying an additional 135,148 shares during the last quarter. Institutional investors 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.