Rani Therapeutics (NASDAQ:RANI) Earns “Buy” Rating from Chardan Capital

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a report released on Thursday, Benzinga reports.

RANI has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rani Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rani Therapeutics Stock Performance

NASDAQ:RANI traded down $0.02 on Thursday, reaching $0.59. The company’s stock had a trading volume of 714,177 shares, compared to its average volume of 915,445. Rani Therapeutics has a 1-year low of $0.57 and a 1-year high of $2.63. The firm has a market cap of $82.24 million, a PE ratio of -2.19 and a beta of 0.69. The business’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $0.83.

Rani Therapeutics (NASDAQ:RANI) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.71 million during the quarter, compared to analyst estimates of $0.93 million. As a group, sell-side analysts expect that Rani Therapeutics will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RANI. Squarepoint Ops LLC boosted its position in shares of Rani Therapeutics by 155.5% during the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after buying an additional 25,501 shares during the period. AWM Investment Company Inc. acquired a new position in shares of Rani Therapeutics during the second quarter worth about $5,703,000. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Rani Therapeutics by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after buying an additional 10,347 shares during the period. 30.19% of the stock is owned by institutional investors and hedge funds.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company’s platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.