Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) PT at $12.33

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $12.33.

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research report on Friday, February 7th. Canaccord Genuity Group restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a research report on Wednesday, February 26th.

Rani Therapeutics Stock Performance

Shares of NASDAQ:RANI opened at $1.46 on Wednesday. The company’s 50 day moving average price is $1.49 and its two-hundred day moving average price is $1.96. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75. The firm has a market cap of $83.64 million, a PE ratio of -1.38 and a beta of 0.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insider Buying and Selling

In other news, insider Kate Mckinley purchased 17,960 shares of Rani Therapeutics stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the transaction, the insider now owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 53.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rani Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RANI. King Luther Capital Management Corp lifted its stake 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 purchasing an additional 25,000 shares during the last quarter. Stifel Financial Corp lifted its stake in Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares during the last quarter. Geode Capital Management LLC lifted its stake in Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics in the 4th quarter valued at approximately $37,000. Finally, Virtu Financial LLC bought a new position in Rani Therapeutics in the 4th quarter valued at approximately $62,000. 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.