Analysts Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Target Price at $11.71

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.71.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a report on Tuesday, November 19th.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.40 on Friday. The company’s 50 day moving average is $2.15 and its 200-day moving average is $2.74. The firm has a market cap of $80.20 million, a P/E ratio of -1.32 and a beta of 0.05. Rani Therapeutics has a 12-month low of $1.30 and a 12-month high of $8.75. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $1.67 per share, for a total transaction 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. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 in the company, valued at approximately $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 currently owned by company insiders.

Institutional Trading of Rani Therapeutics

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings 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 in the last quarter. Stifel Financial Corp lifted its position in 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 acquiring an additional 135,148 shares during the period. King Luther Capital Management Corp boosted its stake in Rani Therapeutics by 44.5% during the third 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 in the last quarter. Finally, Marshall Wace LLP bought a new stake in Rani Therapeutics during the second quarter worth about $81,000. 30.19% of the stock is owned by institutional investors.

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.