Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Consensus Recommendation of “Buy” by Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $12.33.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Rani Therapeutics in a research note on Friday.

Insider Activity

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $1.67 per share, with a total value of $29,993.20. Following the completion of the purchase, the insider now directly owns 17,960 shares in the company, valued at approximately $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in shares of Rani Therapeutics in the 4th quarter worth $37,000. Geode Capital Management LLC boosted its position in shares of Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after purchasing an additional 21,527 shares during the period. Stifel Financial Corp increased its stake in Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after purchasing an additional 135,148 shares in the last quarter. King Luther Capital Management Corp raised its holdings in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after buying an additional 25,000 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Rani Therapeutics during the second quarter valued at about $81,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $1.52 on Friday. The business has a 50 day simple moving average of $1.50 and a 200 day simple moving average of $2.15. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $87.08 million, a price-to-earnings ratio of -1.43 and a beta of 0.16. Rani Therapeutics has a 12-month low of $1.24 and a 12-month high of $8.75.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.