Rani Therapeutics (NASDAQ:RANI - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $9.00 price objective on the stock.
Rani Therapeutics Trading Up 2.5 %
Shares of RANI traded up $0.04 during trading hours on Friday, reaching $1.46. 583,990 shares of the company traded hands, compared to its average volume of 1,637,123. The stock's fifty day moving average price is $1.49 and its 200 day moving average price is $2.13. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75. The firm has a market cap of $83.36 million, a price-to-earnings ratio of -1.36 and a beta of 0.16.
Insider Buying and Selling
In related news, insider Kate Mckinley purchased 17,960 shares of the business's stock in a transaction on Friday, December 13th. The shares were acquired at an average price 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 trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 53.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Rani Therapeutics
Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Rani Therapeutics in the 4th quarter worth approximately $62,000. Janney Montgomery Scott LLC acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $37,000. Geode Capital Management LLC increased its holdings 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 valued at $372,000 after purchasing an additional 21,527 shares in the last quarter. Stifel Financial Corp lifted its stake 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 valued at $583,000 after purchasing an additional 135,148 shares during the period. Finally, King Luther Capital Management Corp boosted its holdings in Rani Therapeutics by 44.5% during the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company's stock worth $175,000 after buying an additional 25,000 shares in the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.
Rani Therapeutics Company Profile
(
Get Free Report)
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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