Canaccord Genuity Group Reaffirms “Buy” Rating for Rani Therapeutics (NASDAQ:RANI)

Canaccord Genuity Group restated their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report sent to investors on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price objective on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a report on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rani Therapeutics has an average rating of “Buy” and an average target price of $12.33.

Rani Therapeutics Trading Up 2.0 %

Shares of RANI stock opened at $1.53 on Wednesday. Rani Therapeutics has a twelve month low of $1.24 and a twelve month high of $8.75. The stock has a market cap of $87.65 million, a price-to-earnings ratio of -1.44 and a beta of 0.16. The company’s 50-day moving average price is $1.47 and its 200-day moving average price is $2.04. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insider Buying and Selling

In related news, insider Kate Mckinley bought 17,960 shares of the stock in a transaction on Friday, December 13th. The stock was bought 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

Several large investors have recently made changes to their positions in RANI. Two Sigma Advisers LP acquired a new stake in Rani Therapeutics in the 4th quarter valued at approximately $151,000. Two Sigma Investments LP acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at $399,000. Insigneo Advisory Services LLC purchased a new stake in shares of Rani Therapeutics in the 4th quarter valued at $65,000. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of Rani Therapeutics in the 4th quarter valued at $278,000. Finally, Virtu Financial LLC acquired a new position in Rani Therapeutics during the 4th quarter worth about $62,000. 30.19% of the stock is currently 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.