Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several equities research analysts have recently commented on RANI shares. Maxim Group increased their price objective on Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a research report on Tuesday, October 21st.

Insider Activity

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 4,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $2.77, for a total value of $11,080,000.00. Following the sale, the insider owned 2,379,194 shares in the company, valued at $6,590,367.38. This represents a 62.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mir A. Imran acquired 2,083,334 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was acquired at an average cost of $0.60 per share, with a total value of $1,250,000.40. Following the completion of the transaction, the director 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 SEC filing for this purchase provides additional information. Company insiders own 26.51% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Well Done LLC acquired a new position in Rani Therapeutics in the 2nd quarter valued at about $27,000. Janney Montgomery Scott LLC boosted its holdings in shares of Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after acquiring an additional 28,000 shares during the period. CWA Asset Management Group LLC grew its position in shares of Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after purchasing an additional 66,667 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of 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 purchasing an additional 70,002 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in Rani Therapeutics by 199.0% during the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after purchasing an additional 301,193 shares during the last quarter. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

NASDAQ:RANI opened at $1.36 on Friday. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The company has a market cap of $165.25 million, a P/E ratio of -1.72 and a beta of 0.42. The stock’s 50-day simple moving average is $1.67 and its 200 day simple moving average is $0.99.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). As a group, equities analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

About Rani Therapeutics

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.