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

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

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

Rani Therapeutics Trading Up 0.8 %

Shares of Rani Therapeutics stock opened at $1.32 on Tuesday. The company has a market capitalization of $75.62 million, a P/E ratio of -1.25 and a beta of 0.16. The stock has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $2.40. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insiders Place Their Bets

In other Rani Therapeutics news, insider Kate Mckinley purchased 17,960 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $1.67 per share, with a total value of $29,993.20. Following the completion of the transaction, the insider now directly owns 17,960 shares in the company, valued at approximately $29,993.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in Rani Therapeutics during the second quarter worth about $81,000. King Luther Capital Management Corp increased its stake in 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 purchasing an additional 25,000 shares during the period. Geode Capital Management LLC raised 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 valued at $372,000 after buying an additional 21,527 shares during the last quarter. Finally, Stifel Financial Corp raised its stake 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 valued at $583,000 after acquiring an additional 135,148 shares during the last quarter. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

Rani Therapeutics Company 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.