Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Shares Acquired by Stifel Financial Corp

Stifel Financial Corp boosted its holdings in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 100.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 269,768 shares of the company’s stock after acquiring an additional 135,148 shares during the period. Stifel Financial Corp owned 0.51% of Rani Therapeutics worth $583,000 at the end of the most recent reporting period.

Separately, King Luther Capital Management Corp increased 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 valued at $175,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock opened at $1.42 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average of $2.06 and a 200 day moving average of $2.66. The company has a market capitalization of $81.35 million, a P/E ratio of -1.34 and a beta of 0.05. Rani Therapeutics Holdings, Inc. has a 52-week low of $1.30 and a 52-week high of $8.75.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.71.

Insider Buying and Selling at Rani Therapeutics

In related news, insider Kate Mckinley purchased 17,960 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the acquisition, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder South Cone Investments Limited sold 3,829,360 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 53.30% of the stock is owned by insiders.

Rani Therapeutics 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.