Chardan Capital Reaffirms “Buy” Rating for Rani Therapeutics (NASDAQ:RANI)

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

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

Rani Therapeutics Stock Down 0.8%

Shares of Rani Therapeutics stock traded down $0.01 during mid-day trading on Thursday, reaching $0.60. 163,920 shares of the stock traded hands, compared to its average volume of 913,302. The business has a 50-day moving average of $0.80 and a 200 day moving average of $0.83. Rani Therapeutics has a fifty-two week low of $0.59 and a fifty-two week high of $2.63. The stock has a market capitalization of $83.64 million, a PE ratio of -2.21 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last announced its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.93 million. On average, equities research analysts expect that Rani Therapeutics will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Rani Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AWM Investment Company Inc. acquired a new stake in shares of Rani Therapeutics in the second quarter valued at approximately $5,703,000. Kestra Private Wealth Services LLC increased its holdings in shares of Rani Therapeutics by 4.1% in the first 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 during the last quarter. Finally, Squarepoint Ops LLC increased its holdings 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 purchasing an additional 25,501 shares during the last quarter. Institutional investors and hedge funds 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.