Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Consensus PT from Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) has received an average recommendation of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.71.

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

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley purchased 17,960 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the purchase, the insider now owns 17,960 shares of the company's stock, valued at $29,993.20. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 53.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of Rani Therapeutics in the second quarter worth $81,000. King Luther Capital Management Corp boosted 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 worth $175,000 after purchasing an additional 25,000 shares during the period. Stifel Financial Corp grew its holdings in Rani Therapeutics by 100.4% during the 3rd 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. Geode Capital Management LLC increased its position in shares of 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 buying an additional 21,527 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter worth about $37,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Stock Performance

RANI stock traded down $0.01 during midday trading on Tuesday, hitting $1.31. The company's stock had a trading volume of 121,282 shares, compared to its average volume of 305,157. The stock has a market cap of $75.05 million, a price-to-earnings ratio of -1.24 and a beta of 0.16. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The stock's 50-day moving average price is $1.74 and its 200 day moving average price is $2.39. Rani Therapeutics has a 1 year low of $1.24 and a 1 year high of $8.75.

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.