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

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

A number of other equities analysts have 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.33.

Rani Therapeutics Price Performance

Shares of NASDAQ:RANI traded down $0.00 during midday trading on Thursday, reaching $0.60. The company’s stock had a trading volume of 296,000 shares, compared to its average volume of 914,155. Rani Therapeutics has a fifty-two week low of $0.59 and a fifty-two week high of $2.63. The company has a market capitalization of $83.92 million, a P/E ratio of -2.23 and a beta of 0.69. The business’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.83.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share 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. On average, analysts forecast that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rani Therapeutics

Several institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in 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 in the last quarter. Squarepoint Ops LLC increased 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 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 Rani Therapeutics during the second quarter worth about $5,703,000. Institutional investors own 30.19% of the company’s stock.

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.