Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $11.71 Average Target Price from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.71.

Several equities analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research report on Tuesday, November 19th. Oppenheimer assumed coverage on Rani Therapeutics in a research report on Friday, August 2nd. They issued an “outperform” rating and a $17.00 target price on the stock.

Insider Activity

In related news, major shareholder South Cone Investments Limited sold 3,829,360 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $2.65, for a total value of $10,147,804.00. Following the completion of the sale, the insider now directly owns 8,302,194 shares in the company, valued at $22,000,814.10. This represents a 31.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 53.30% of the stock is owned by corporate insiders.

Institutional Trading of Rani Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in Rani Therapeutics during the 2nd quarter worth about $81,000. King Luther Capital Management Corp grew its holdings in Rani Therapeutics by 44.5% during the 3rd 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. Geode Capital Management LLC grew its holdings in Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after acquiring an additional 21,527 shares during the period. Stifel Financial Corp grew its holdings in Rani Therapeutics by 100.4% during the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after acquiring an additional 135,148 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after acquiring an additional 16,956 shares during the period. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $1.99 on Monday. The stock’s 50-day simple moving average is $2.32 and its 200 day simple moving average is $3.15. The company has a market cap of $114.01 million, a P/E ratio of -1.88 and a beta of 0.11. 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 52-week low of $1.90 and a 52-week high of $8.75.

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.