Rani Therapeutics’ (RANI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report released on Friday morning,Benzinga reports. They currently have a $9.00 price objective on the stock.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock opened at $1.52 on Friday. The stock’s 50-day simple moving average is $1.50 and its 200-day simple moving average is $2.14. Rani Therapeutics has a 52 week low of $1.24 and a 52 week high of $8.75. The company has a market capitalization of $87.08 million, a price-to-earnings ratio of -1.43 and a beta of 0.16. 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 Transactions at Rani Therapeutics

In other news, insider Kate Mckinley bought 17,960 shares of Rani Therapeutics stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $1.67 per share, with a total value of $29,993.20. Following the completion of the acquisition, the insider now owns 17,960 shares of the company’s stock, valued at $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 available through the SEC website. Insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Several large investors have recently made changes to their positions in RANI. Stifel Financial Corp increased its stake in 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 acquiring an additional 135,148 shares during the last quarter. Geode Capital Management LLC increased its stake in Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after acquiring an additional 21,527 shares during the last quarter. Marshall Wace LLP bought a new stake in Rani Therapeutics during the second quarter worth approximately $81,000. King Luther Capital Management Corp increased 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 during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Rani Therapeutics during the fourth quarter worth approximately $37,000. 30.19% of the stock is owned by 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.