Rani Therapeutics’ (RANI) Buy Rating Reaffirmed at Chardan Capital

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

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rani Therapeutics in a research note on Thursday, October 15th. HC Wainwright restated a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.33.

Rani Therapeutics Trading Down 3.6%

NASDAQ RANI traded down $0.02 on Thursday, hitting $0.58. 554,486 shares of the company’s stock traded hands, compared to its average volume of 915,312. The firm’s 50-day moving average price is $0.80 and its two-hundred day moving average price is $0.83. The firm has a market capitalization of $81.27 million, a PE ratio of -2.16 and a beta of 0.69. Rani Therapeutics has a 1-year low of $0.57 and a 1-year high of $2.63.

Rani Therapeutics (NASDAQ:RANI) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping 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. On average, research analysts anticipate that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in shares of Rani Therapeutics by 155.5% in the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after acquiring an additional 25,501 shares during the period. Kestra Private Wealth Services LLC increased its stake 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 purchasing an additional 10,347 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new position in Rani Therapeutics in the 2nd quarter worth about $5,703,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.