Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Insider Kate Mckinley Acquires 17,960 Shares

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) insider Kate Mckinley purchased 17,960 shares of Rani Therapeutics stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $1.67 per share, with a total value of $29,993.20. Following the transaction, the insider now owns 17,960 shares in the company, valued at approximately $29,993.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rani Therapeutics Price Performance

Shares of RANI traded down $0.07 during mid-day trading on Monday, hitting $1.59. The company's stock had a trading volume of 813,769 shares, compared to its average volume of 546,883. The firm has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.85. Rani Therapeutics Holdings, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $8.75. The stock has a market capitalization of $91.09 million, a price-to-earnings ratio of -1.57 and a beta of 0.05. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60.

Institutional Trading of Rani Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RANI. Marshall Wace LLP bought a new stake in shares of Rani Therapeutics in the 2nd quarter worth about $81,000. King Luther Capital Management Corp grew its stake in shares of Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company's stock worth $175,000 after acquiring an additional 25,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company's stock worth $372,000 after acquiring an additional 21,527 shares in the last quarter. Stifel Financial Corp grew its stake in shares of 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. lifted its holdings in shares of Rani Therapeutics by 2.5% during the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company's stock worth $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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Rani Therapeutics in a research report on Tuesday, November 19th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $11.71.

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.

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