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

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

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

Rani Therapeutics Stock Down 1.3%

Shares of NASDAQ RANI traded down $0.01 on Thursday, hitting $0.60. The company had a trading volume of 263,457 shares, compared to its average volume of 913,506. The firm has a market capitalization of $83.22 million, a P/E ratio of -2.21 and a beta of 0.69. Rani Therapeutics has a 12-month low of $0.59 and a 12-month high of $2.63. The business has a 50 day moving average of $0.80 and a two-hundred day moving average of $0.83.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly 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 business had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $0.93 million. On average, sell-side analysts anticipate that Rani Therapeutics will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AWM Investment Company Inc. purchased a new position in Rani Therapeutics in the second quarter valued at about $5,703,000. Kestra Private Wealth Services LLC boosted its holdings in 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 boosted its holdings in 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. Hedge funds and other 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.