HC Wainwright Reiterates “Buy” Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 339.02% from the company’s current price.

Separately, Oppenheimer initiated coverage on Rani Therapeutics in a report on Friday, August 2nd. They set an “outperform” rating and a $17.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.71.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $2.05 on Tuesday. Rani Therapeutics has a fifty-two week low of $1.90 and a fifty-two week high of $8.75. The stock’s 50-day moving average is $2.36 and its two-hundred day moving average is $3.36. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $109.49 million, a P/E ratio of -1.93 and a beta of 0.11.

Insider Activity

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the sale, the insider now directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 53.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Rani Therapeutics by 14.3% during the third 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 raised its stake in shares of 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 last quarter. King Luther Capital Management Corp raised its stake in shares of Rani Therapeutics by 44.5% in the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Rani Therapeutics in the second quarter valued at approximately $81,000. Finally, Vanguard Group Inc. raised its stake in shares of Rani Therapeutics by 2.5% in the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after acquiring an additional 16,956 shares during the last quarter. 30.19% of the stock is owned by institutional investors and hedge funds.

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.