Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Average Target Price from Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) have received a consensus recommendation of "Buy" from the seven analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.71.

Separately, HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Rani Therapeutics in a research report on Tuesday, November 19th.

Rani Therapeutics Trading Down 1.5 %

RANI stock traded down $0.02 on Tuesday, reaching $1.28. The company's stock had a trading volume of 180,290 shares, compared to its average volume of 363,730. 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 business has a fifty day simple moving average of $1.79 and a two-hundred day simple moving average of $2.41. The firm has a market cap of $73.33 million, a PE ratio of -1.21 and a beta of 0.16. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75.

Insider Activity at Rani Therapeutics

In other news, insider Kate Mckinley bought 17,960 shares of the firm's stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $1.67 per share, with a total value of $29,993.20. Following the completion of the acquisition, the insider now owns 17,960 shares of the company's stock, valued at approximately $29,993.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted 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 valued at $583,000 after buying an additional 135,148 shares during the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 21,527 shares during the period. King Luther Capital Management Corp boosted its holdings in 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 during the last quarter. Finally, Marshall Wace LLP bought a new stake in Rani Therapeutics in the 2nd quarter worth approximately $81,000. 30.19% of the stock is 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.