Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Consensus Recommendation of “Buy” by Analysts

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $12.33.

A number of brokerages have issued reports on RANI. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a research report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Friday, February 7th.

Rani Therapeutics Trading Down 1.3 %

Shares of RANI stock opened at $1.56 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. Rani Therapeutics has a 1 year low of $1.24 and a 1 year high of $8.75. The stock has a fifty day moving average of $1.48 and a two-hundred day moving average of $1.99. The firm has a market capitalization of $89.37 million, a PE ratio of -1.47 and a beta of 0.14.

Insider Activity

In related news, insider Kate Mckinley bought 17,960 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $1.67 per share, with a total value of $29,993.20. Following the completion of the transaction, the insider now directly owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Rani Therapeutics by 14.3% during the third 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 during the period. King Luther Capital Management Corp raised its position in shares of 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 purchasing an additional 25,000 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth $37,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth $62,000. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Rani Therapeutics during the fourth quarter worth $65,000. 30.19% of the stock is owned by institutional investors and hedge funds.

About Rani Therapeutics

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.