Rani Therapeutics (NASDAQ:RANI) Receives Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a research report report published on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a $9.00 price target on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a report on Friday, February 7th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.33.

Rani Therapeutics Stock Up 5.1 %

Rani Therapeutics stock opened at $1.54 on Wednesday. The business’s 50-day simple moving average is $1.47 and its two-hundred day simple moving average is $2.05. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $88.23 million, a PE ratio of -1.45 and a beta of 0.16. Rani Therapeutics has a fifty-two week low of $1.24 and a fifty-two week high of $8.75.

Insider Activity

In other news, insider Kate Mckinley purchased 17,960 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price 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 in the company, valued at $29,993.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 53.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. King Luther Capital Management Corp increased its stake in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after purchasing an additional 25,000 shares in the last quarter. Stifel Financial Corp grew its holdings in Rani Therapeutics by 100.4% in the third quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 21,527 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Rani Therapeutics in the fourth quarter valued at approximately $37,000. Finally, Virtu Financial LLC acquired a new position in shares of Rani Therapeutics during the 4th quarter worth approximately $62,000. Institutional investors and hedge funds 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.