Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Short Interest Up 48.7% in February

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, an increase of 48.7% from the January 31st total of 1,890,000 shares. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is currently 2.8 days. Approximately 12.4% of the company’s stock are sold short.

Rani Therapeutics Stock Down 2.7 %

NASDAQ RANI traded down $0.04 during trading hours on Tuesday, hitting $1.43. 157,981 shares of the company were exchanged, compared to its average volume of 1,250,149. Rani Therapeutics has a 52-week low of $1.24 and a 52-week high of $8.75. The firm has a market cap of $81.92 million, a price-to-earnings ratio of -1.35 and a beta of 0.16. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average of $1.48 and a two-hundred day moving average of $2.02.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RANI. Canaccord Genuity Group restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Wednesday, February 26th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research report on Friday, February 7th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.33.

Insiders Place Their Bets

In other news, insider Kate Mckinley acquired 17,960 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the transaction, the insider now owns 17,960 shares of the company’s stock, valued at $29,993.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 53.30% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth approximately $399,000. Stifel Financial Corp grew its position in Rani Therapeutics by 100.4% during the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock worth $583,000 after buying an additional 135,148 shares in the last quarter. Takeda Pharmaceutical Co. Ltd. bought a new position in Rani Therapeutics during the fourth quarter worth about $278,000. Geode Capital Management LLC raised its stake in shares of Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at approximately $151,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Company Profile

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.