Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Price Target at $12.33

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given a consensus rating of “Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.33.

RANI has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Friday, February 7th. Canaccord Genuity Group reissued a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research report on Wednesday, February 26th.

Insiders Place Their Bets

In other news, insider Kate Mckinley purchased 17,960 shares of the stock in a transaction dated 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 transaction, the insider now owns 17,960 shares in the company, valued at $29,993.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after buying an additional 135,148 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Rani Therapeutics during the fourth quarter worth $37,000. King Luther Capital Management Corp boosted its position in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after buying an additional 25,000 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $399,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Stock Performance

Shares of RANI opened at $1.56 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $89.37 million, a P/E ratio of -1.47 and a beta of 0.14. The stock has a 50 day moving average price of $1.48 and a two-hundred day moving average price of $2.01. Rani Therapeutics has a 52 week low of $1.24 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.