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

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.33.

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

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.42 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. The company has a fifty day simple moving average of $1.49 and a 200 day simple moving average of $2.13. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75. The company has a market cap of $81.35 million, a P/E ratio of -1.34 and a beta of 0.16.

Insider Activity

In other Rani Therapeutics 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 purchase, the insider now owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Stifel Financial Corp grew 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 purchasing an additional 135,148 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rani Therapeutics by 14.3% during the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares in the last quarter. Marshall Wace LLP purchased a new position in Rani Therapeutics in the 2nd quarter worth approximately $81,000. King Luther Capital Management Corp lifted its position 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 valued at $175,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Rani Therapeutics in the fourth quarter worth $37,000. 30.19% of the stock is currently 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.