Rani Therapeutics (NASDAQ:RANI) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $9.00 price target on the stock.

Rani Therapeutics Stock Down 7.9 %

Shares of NASDAQ:RANI opened at $1.52 on Friday. The business has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $2.15. 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 1 year low of $1.24 and a 1 year high of $8.75.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley acquired 17,960 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the acquisition, the insider now owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 53.30% of the stock is currently owned by company insiders.

Institutional Trading of Rani Therapeutics

Large investors have recently modified their holdings of the company. Stifel Financial Corp grew its holdings in 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 buying an additional 135,148 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the period. Marshall Wace LLP acquired a new stake in shares of Rani Therapeutics in the second quarter worth $81,000. King Luther Capital Management Corp increased its position 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 acquiring an additional 25,000 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Rani Therapeutics during the 4th quarter valued at $37,000. 30.19% of the stock is owned by 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.