Rani Therapeutics' (RANI) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI - Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $9.00 price objective on the stock.

Separately, Oppenheimer assumed coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They issued an "outperform" rating and a $17.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $11.71.

Rani Therapeutics Trading Up 0.5 %

Shares of Rani Therapeutics stock traded up $0.01 on Tuesday, hitting $2.06. 534,548 shares of the company's stock traded hands, compared to its average volume of 550,949. Rani Therapeutics has a one year low of $1.90 and a one year 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 stock has a market capitalization of $110.02 million, a PE ratio of -1.93 and a beta of 0.11. The firm's 50-day moving average price is $2.36 and its two-hundred day moving average price is $3.36.

Insider Buying and Selling

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the completion of the sale, the insider now owns 8,302,194 shares of the company's stock, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Rani Therapeutics by 2.5% during the 1st 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 in the last quarter. Marshall Wace LLP acquired a new position in Rani Therapeutics during the second quarter worth $81,000. King Luther Capital Management Corp grew its holdings in shares of Rani Therapeutics by 44.5% during the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company's stock valued at $175,000 after buying an additional 25,000 shares during the last quarter. Stifel Financial Corp increased its position in shares of 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 acquiring an additional 135,148 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 acquiring an additional 21,527 shares in the last quarter. 30.19% of the stock is currently owned by institutional investors.

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.