Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) by 14.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 172,261 shares of the company’s stock after purchasing an additional 21,527 shares during the period. Geode Capital Management LLC owned approximately 0.32% of Rani Therapeutics worth $372,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of Rani Therapeutics by 100.4% during the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after buying an additional 135,148 shares during the period. Marshall Wace LLP acquired a new position in Rani Therapeutics during the 2nd quarter worth about $81,000. Finally, King Luther Capital Management Corp boosted 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 valued at $175,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

Shares of RANI opened at $1.25 on Monday. The stock has a 50-day simple moving average of $1.84 and a 200-day simple moving average of $2.45. 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 Holdings, Inc. has a 1 year low of $1.25 and a 1 year high of $8.75. The stock has a market capitalization of $71.61 million, a PE ratio of -1.18 and a beta of 0.16.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.71.

Insiders Place Their Bets

In other Rani Therapeutics 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 completion of the sale, the insider now directly owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. The trade was a 31.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kate Mckinley acquired 17,960 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the acquisition, the insider now owns 17,960 shares in the company, valued at approximately $29,993.20. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 53.30% of the stock is currently owned by company 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.