Rani Therapeutics (NASDAQ:RANI) Stock Rating Reaffirmed as Buy by Chardan Capital

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reissued by research analysts at Chardan Capital in a note issued to investors on Thursday, Benzinga reports.

Several other equities research analysts also recently issued reports on RANI. Weiss Ratings restated a “sell (e+)” rating on shares of Rani Therapeutics in a report on Thursday, October 15th. HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.33.

Rani Therapeutics Trading Down 4.3%

RANI stock traded down $0.03 during midday trading on Thursday, hitting $0.58. 534,660 shares of the company’s stock were exchanged, compared to its average volume of 915,249. Rani Therapeutics has a 12-month low of $0.57 and a 12-month high of $2.63. The firm has a 50 day moving average price of $0.80 and a 200-day moving average price of $0.83. The stock has a market capitalization of $80.71 million, a price-to-earnings ratio of -2.15 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $0.93 million. On average, sell-side analysts forecast that Rani Therapeutics will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Rani Therapeutics by 4.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock valued at $195,000 after acquiring an additional 10,347 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Rani Therapeutics by 155.5% in the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock valued at $32,000 after acquiring an additional 25,501 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of Rani Therapeutics in the 2nd quarter valued at approximately $5,703,000. 30.19% of the stock is currently owned by institutional investors.

About Rani Therapeutics

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.