Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) PT at $8.50

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.50.

Several equities analysts have commented on RANI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. Maxim Group upped their price target on Rani Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, October 21st.

Insider Buying and Selling

In other news, major shareholder South Cone Investments Limited sold 4,000,000 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $2.77, for a total value of $11,080,000.00. Following the completion of the sale, the insider directly owned 2,379,194 shares in the company, valued at approximately $6,590,367.38. The trade was a 62.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mir A. Imran acquired 2,083,334 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were purchased at an average cost of $0.60 per share, with a total value of $1,250,000.40. Following the completion of the acquisition, the director owned 2,083,334 shares in the company, valued at $1,250,000.40. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 26.51% of the company’s stock.

Institutional Trading of Rani Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new stake in Rani Therapeutics during the second quarter worth $1,619,000. Citadel Advisors LLC increased its stake in shares of Rani Therapeutics by 199.0% in the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock valued at $226,000 after buying an additional 301,193 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Rani Therapeutics by 44.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after purchasing an additional 70,002 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Rani Therapeutics by 80.0% in the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock valued at $75,000 after buying an additional 66,667 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after purchasing an additional 28,000 shares during the period. 30.19% of the stock is owned by institutional investors.

Rani Therapeutics Stock Performance

NASDAQ:RANI opened at $1.36 on Friday. The company has a market capitalization of $165.25 million, a P/E ratio of -1.72 and a beta of 0.42. The stock’s 50 day moving average price is $1.66 and its 200 day moving average price is $1.00. Rani Therapeutics has a 52 week low of $0.39 and a 52 week high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last posted its earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). As a group, sell-side analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Rani Therapeutics Company Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.