HC Wainwright Lowers Rani Therapeutics (NASDAQ:RANI) Price Target to $12.00

Rani Therapeutics (NASDAQ:RANI) had its target price reduced by HC Wainwright from $16.00 to $12.00 in a report issued on Monday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Wedbush reiterated an outperform rating and set a $8.00 price target on shares of Rani Therapeutics in a report on Tuesday, February 6th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rani Therapeutics presently has an average rating of Buy and a consensus target price of $14.00.

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $3.11 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 6.36 and a current ratio of 6.36. The stock’s 50-day simple moving average is $3.48 and its 200 day simple moving average is $2.87. The company has a market cap of $155.50 million, a P/E ratio of -2.34 and a beta of 0.97. Rani Therapeutics has a 52-week low of $1.82 and a 52-week high of $5.81.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Rani Therapeutics by 95.4% during the 3rd quarter. Vanguard Group Inc. now owns 650,978 shares of the company’s stock worth $6,236,000 after purchasing an additional 317,849 shares in the last quarter. Millennium Management LLC boosted its position in shares of Rani Therapeutics by 243.7% during the 2nd quarter. Millennium Management LLC now owns 111,781 shares of the company’s stock worth $1,155,000 after purchasing an additional 79,256 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Rani Therapeutics in the 1st quarter worth about $365,000. Stifel Financial Corp raised its holdings in shares of Rani Therapeutics by 84.9% in the 3rd quarter. Stifel Financial Corp now owns 141,904 shares of the company’s stock worth $309,000 after acquiring an additional 65,144 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Rani Therapeutics by 114.5% in the 2nd quarter. Renaissance Technologies LLC now owns 88,201 shares of the company’s stock worth $363,000 after acquiring an additional 47,084 shares during the last quarter. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Rani Therapeutics Company Profile

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.