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

by · The Markets Daily

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on RANI shares. Maxim Group upped their target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a report on Monday, December 8th. Wall Street Zen upgraded Rani Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Rani Therapeutics in a research report on Tuesday, October 21st.

Check Out Our Latest Stock Analysis on Rani Therapeutics

Insiders Place Their Bets

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 4,000,000 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $2.77, for a total transaction of $11,080,000.00. Following the completion of the transaction, the insider directly owned 2,379,194 shares of the company’s stock, valued at approximately $6,590,367.38. This represents a 62.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mir A. Imran acquired 2,083,334 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average price of $0.60 per share, for a total transaction of $1,250,000.40. Following the completion of the purchase, the director directly owned 2,083,334 shares in the company, valued at $1,250,000.40. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 45.08% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RANI. Well Done LLC purchased a new position in shares of Rani Therapeutics during the second quarter worth about $27,000. Janney Montgomery Scott LLC lifted its position in Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after purchasing an additional 28,000 shares during the last quarter. King Luther Capital Management Corp grew its stake in Rani Therapeutics by 75.8% in the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company’s stock worth $73,000 after buying an additional 25,000 shares in the last quarter. CWA Asset Management Group LLC increased its holdings 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 worth $75,000 after buying an additional 66,667 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its position 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 buying an additional 70,002 shares in the last quarter. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Stock Performance

Shares of NASDAQ RANI opened at $1.34 on Tuesday. The company’s 50 day moving average price is $1.59 and its 200-day moving average price is $0.90. Rani Therapeutics has a 52-week low of $0.39 and a 52-week high of $3.87. The company has a market capitalization of $162.82 million, a P/E ratio of -1.70 and a beta of 0.40.

Rani Therapeutics (NASDAQ:RANI – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current year.

Rani Therapeutics Company Profile

(Get Free Report)

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.

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