Rani Therapeutics (NASDAQ:RANI) Shares Up 0.7% - Time to Buy?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) shares rose 0.7% on Tuesday . The company traded as high as $1.40 and last traded at $1.37. Approximately 101,014 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 227,128 shares. The stock had previously closed at $1.36.

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 Friday. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $12.33.

Rani Therapeutics Stock Down 7.9 %

The stock has a 50-day moving average of $1.50 and a 200-day moving average of $2.15. 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 company has a market cap of $87.08 million, a PE ratio of -1.43 and a beta of 0.16.

Insider Activity at Rani Therapeutics

In other news, insider Kate Mckinley bought 17,960 shares of the business's stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the purchase, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 53.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RANI. Marshall Wace LLP bought a new position in shares of Rani Therapeutics during the second quarter valued at about $81,000. Janney Montgomery Scott LLC bought a new position in Rani Therapeutics during the 4th quarter valued at approximately $37,000. King Luther Capital Management Corp lifted its holdings 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 buying an additional 25,000 shares during the period. Geode Capital Management LLC grew its position in shares of Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company's stock worth $372,000 after buying an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Rani Therapeutics by 100.4% during 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 during the period. 30.19% of the stock is owned by hedge funds and other institutional investors.

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.