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

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $9.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 339.02% from the stock’s previous close.

Separately, Oppenheimer started coverage on shares of Rani Therapeutics in a research note on Friday, August 2nd. They set an “outperform” rating and a $17.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.71.

Rani Therapeutics Price Performance

NASDAQ RANI opened at $2.05 on Tuesday. Rani Therapeutics has a 12 month low of $1.90 and a 12 month high of $8.75. 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 capitalization of $109.48 million, a PE ratio of -1.93 and a beta of 0.11. The company’s 50 day simple moving average is $2.34 and its 200 day simple moving average is $3.32.

Insider Buying and Selling

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the completion of the sale, the insider now 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after buying an additional 21,527 shares during the period. Stifel Financial Corp raised its holdings in shares of Rani Therapeutics by 100.4% during the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of 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. Marshall Wace LLP bought a new position in shares of Rani Therapeutics during the 2nd quarter valued at $81,000. Finally, Vanguard Group Inc. raised its holdings in shares of Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after purchasing an additional 16,956 shares in the last quarter. Institutional investors and hedge funds own 30.19% of the company’s stock.

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.