Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Price Target at $11.71

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average rating of “Buy” by the seven brokerages that are covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.71.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, November 19th.

Insider Activity at Rani Therapeutics

In related news, insider Kate Mckinley purchased 17,960 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $1.67 per share, with a total value of $29,993.20. Following the completion of the purchase, the insider now owns 17,960 shares in the company, valued at approximately $29,993.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.30% of the stock is owned by corporate insiders.

Institutional Trading of Rani Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RANI. Stifel Financial Corp grew its stake in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after acquiring an additional 135,148 shares during the period. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 21,527 shares in the last quarter. Marshall Wace LLP acquired a new stake in Rani Therapeutics in the 2nd quarter valued at $81,000. King Luther Capital Management Corp increased its stake in Rani Therapeutics by 44.5% during the 3rd 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 in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Rani Therapeutics during the fourth quarter worth $37,000. 30.19% of the stock is owned by institutional investors.

Rani Therapeutics Stock Down 0.8 %

Shares of RANI opened at $1.31 on Tuesday. The company has a market capitalization of $75.05 million, a PE ratio of -1.24 and a beta of 0.16. The stock’s 50-day moving average price is $1.70 and its two-hundred day moving average price is $2.34. 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.

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.