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

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

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

Insider Activity at Rani Therapeutics

In other 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, with a total value of $29,993.20. Following the completion of the transaction, the insider now directly owns 17,960 shares of the company's stock, valued at approximately $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder South Cone Investments Limited sold 3,829,360 shares of the company's stock in a transaction dated 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 directly owns 8,302,194 shares of the company's stock, valued at $22,000,814.10. The trade was a 31.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised 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 worth $372,000 after acquiring an additional 21,527 shares during the period. Stifel Financial Corp raised its holdings in shares of Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company's stock worth $583,000 after purchasing an additional 135,148 shares during the period. King Luther Capital Management Corp lifted its stake 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 purchasing an additional 25,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Rani Therapeutics during the second quarter valued at $81,000. Institutional investors own 30.19% of the company's stock.

Rani Therapeutics Trading Up 7.7 %

Shares of NASDAQ:RANI traded up $0.10 during mid-day trading on Friday, hitting $1.40. The company had a trading volume of 460,055 shares, compared to its average volume of 550,562. The firm has a fifty day moving average price of $2.17 and a 200 day moving average price of $2.78. Rani Therapeutics has a one year low of $1.30 and a one year high of $8.75. The company has a market capitalization of $80.20 million, a PE ratio of -1.32 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.

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.