Short Interest in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Rises By 48.7%

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 2,810,000 shares, a growth of 48.7% from the January 31st total of 1,890,000 shares. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 2.8 days. Currently, 12.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

RANI has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $9.00 target price on shares of Rani Therapeutics in a report on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rani Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $12.33.

Insider Transactions at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley purchased 17,960 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $1.67 per share, with a total value of $29,993.20. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 53.30% of the company's stock.

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Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RANI. Geode Capital Management LLC raised its position in Rani Therapeutics by 14.3% during the 3rd 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 in the last quarter. 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 worth $175,000 after acquiring an additional 25,000 shares during the period. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics during the 4th quarter worth about $37,000. Virtu Financial LLC purchased a new position in Rani Therapeutics during the 4th quarter valued at about $62,000. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at about $65,000. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Trading Down 1.3 %

RANI stock traded down $0.02 during midday trading on Friday, reaching $1.56. The company's stock had a trading volume of 116,394 shares, compared to its average volume of 1,174,887. The stock has a fifty day simple moving average of $1.48 and a two-hundred day simple moving average of $2.01. 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 firm has a market capitalization of $89.37 million, a price-to-earnings ratio of -1.47 and a beta of 0.14. 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.