Brokerages Set Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Price Target at $11.71

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have earned a consensus rating of “Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.71.

Several analysts have recently commented on RANI shares. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Tuesday, November 19th. Oppenheimer started coverage on Rani Therapeutics in a research note on Friday, August 2nd. They issued an “outperform” rating and a $17.00 target price for the company.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, major shareholder South Cone Investments Limited sold 3,829,360 shares of Rani Therapeutics stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $2.65, for a total transaction of $10,147,804.00. Following the transaction, the insider now owns 8,302,194 shares of the company’s stock, valued at $22,000,814.10. This trade represents a 31.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 53.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Rani Therapeutics by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock worth $2,131,000 after buying an additional 16,956 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Rani Therapeutics by 100.4% during the 3rd 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. Geode Capital Management LLC increased its stake in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after purchasing an additional 21,527 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of 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 purchasing an additional 25,000 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the 2nd quarter worth approximately $81,000. Institutional investors own 30.19% of the company’s stock.

Rani Therapeutics Stock Performance

Shares of RANI opened at $1.99 on Monday. 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 stock has a 50-day moving average of $2.32 and a 200-day moving average of $3.15. The company has a market cap of $114.01 million, a PE ratio of -1.88 and a beta of 0.11. Rani Therapeutics has a one year low of $1.90 and a one year high of $8.75.

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.