HC Wainwright Reiterates Buy Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.00 target price on the stock.

RANI has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. Maxim Group upped their price target on shares of Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Rani Therapeutics Stock Up 0.7%

Shares of NASDAQ RANI opened at $1.40 on Friday. Rani Therapeutics has a 52 week low of $0.39 and a 52 week high of $3.87. The business has a 50-day simple moving average of $1.63 and a two-hundred day simple moving average of $1.02. The company has a market cap of $170.11 million, a P/E ratio of -1.77 and a beta of 0.42.

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

Insider Buying and Selling at Rani Therapeutics

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

Hedge Funds Weigh In On Rani Therapeutics

Several institutional investors have recently modified their holdings of the company. Well Done LLC bought a new stake in Rani Therapeutics in the 2nd quarter worth approximately $27,000. Janney Montgomery Scott LLC lifted its holdings in shares of Rani Therapeutics by 102.9% in the 2nd 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 last quarter. CWA Asset Management Group LLC boosted its stake in shares of Rani Therapeutics by 80.0% in the 3rd 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 in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Rani Therapeutics by 44.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock valued at $113,000 after purchasing an additional 70,002 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Rani Therapeutics by 199.0% in 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 period. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Company Profile

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.