Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Price Target at $11.71

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.71.

RANI has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th. Oppenheimer initiated coverage on shares of Rani Therapeutics in a report on Friday, August 2nd. They set an "outperform" rating and a $17.00 price objective on the stock.

Rani Therapeutics Stock Performance

Shares of NASDAQ:RANI remained flat at $2.08 on Monday. 635,401 shares of the stock traded hands, compared to its average volume of 549,278. The firm's 50 day moving average price is $2.33 and its 200 day moving average price is $3.18. 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 $119.16 million, a price-to-earnings ratio of -1.96 and a beta of 0.11.

Insider Activity

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total value of $10,147,804.00. Following the transaction, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. The trade was a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 53.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rani Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in Rani Therapeutics in the second quarter valued at about $81,000. King Luther Capital Management Corp boosted its position 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 valued at $175,000 after buying an additional 25,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company's stock valued at $372,000 after buying an additional 21,527 shares in the last quarter. Stifel Financial Corp boosted its position in Rani Therapeutics by 100.4% in 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 in the last quarter. Finally, Vanguard Group Inc. boosted its position in Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company's stock valued at $2,131,000 after buying an additional 16,956 shares in the last quarter. 30.19% of the stock is currently owned by institutional investors and hedge funds.

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.