Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Average Rating of “Moderate Buy” from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

Several research analysts have recently weighed in on RANI shares. Maxim Group upped their price objective on Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Tuesday, December 2nd. Wall Street Zen raised Rani Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a report on Tuesday, October 21st.

Insider Buying and Selling at Rani Therapeutics

In related news, Director Mir A. Imran acquired 2,083,334 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average price of $0.60 per share, for a total transaction of $1,250,000.40. Following the acquisition, the director directly owned 2,083,334 shares of the company’s stock, valued at approximately $1,250,000.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder South Cone Investments Limited sold 4,000,000 shares of Rani Therapeutics stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $2.77, for a total value of $11,080,000.00. Following the completion of the sale, the insider directly owned 2,379,194 shares in the company, valued at approximately $6,590,367.38. This represents a 62.70% decrease in their position. The SEC filing for this sale provides additional information. 45.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Well Done LLC acquired a new position in shares of Rani Therapeutics during the 2nd quarter worth approximately $27,000. Janney Montgomery Scott LLC grew its stake in shares of Rani Therapeutics by 102.9% in the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after buying an additional 28,000 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of Rani Therapeutics by 75.8% in the first quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock valued at $73,000 after buying an additional 25,000 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Rani Therapeutics by 80.0% during the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock worth $75,000 after buying an additional 66,667 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in Rani Therapeutics by 44.8% during the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after acquiring an additional 70,002 shares in the last quarter. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Stock Down 1.9%

Shares of NASDAQ:RANI opened at $1.56 on Tuesday. The firm has a market cap of $189.56 million, a price-to-earnings ratio of -1.97 and a beta of 0.40. Rani Therapeutics has a 12 month low of $0.39 and a 12 month high of $3.87. The company’s fifty day simple moving average is $1.51 and its 200 day simple moving average is $0.87.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, November 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Research analysts expect that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

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.