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

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a report on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Rani Therapeutics in a research note on Tuesday, October 21st. Finally, 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 research report on Monday, October 20th.

Insider Activity

In other Rani Therapeutics news, Director Mir A. Imran purchased 2,083,334 shares of the company’s stock in a transaction that occurred on 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 purchase, the director directly owned 2,083,334 shares in the company, valued at approximately $1,250,000.40. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder South Cone Investments Limited sold 4,000,000 shares of the company’s 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 sale, the insider owned 2,379,194 shares of the company’s stock, valued at $6,590,367.38. The trade was a 62.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 26.51% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Large investors have recently modified their holdings of the business. Kestra Private Wealth Services LLC raised its stake in shares of Rani Therapeutics by 44.8% in 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 period. 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 valued at $226,000 after buying an additional 301,193 shares during the last quarter. CWA Asset Management Group LLC raised its position in 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 buying an additional 66,667 shares during the last quarter. Armistice Capital LLC bought a new stake in Rani Therapeutics in the 2nd quarter valued at approximately $1,619,000. Finally, Janney Montgomery Scott LLC boosted its position in Rani Therapeutics by 102.9% during 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. 30.19% of the stock is currently owned by institutional investors.

Rani Therapeutics Trading Up 0.7%

Shares of RANI stock opened at $1.39 on Friday. The firm has a market capitalization of $168.90 million, a P/E ratio of -1.76 and a beta of 0.42. Rani Therapeutics has a 1 year low of $0.39 and a 1 year high of $3.87. The firm’s fifty day simple moving average is $1.64 and its 200 day simple moving average is $1.01.

Rani Therapeutics (NASDAQ:RANI) last released 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). Equities research analysts anticipate that Rani Therapeutics will post -1.01 EPS 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.