Rani Therapeutics (NASDAQ:RANI) Stock Price Up 0.7% – Here’s Why

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)’s share price traded up 0.7% during trading on Tuesday . The stock traded as high as $1.40 and last traded at $1.37. 101,014 shares were traded during mid-day trading, a decline of 56% from the average session volume of 227,128 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Tuesday, November 19th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $11.71.

Rani Therapeutics Stock Up 0.7 %

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 business’s 50 day moving average price is $1.53 and its 200 day moving average price is $2.17. The firm has a market cap of $78.49 million, a PE ratio of -1.29 and a beta of 0.16.

Insiders Place Their Bets

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $1.67 per share, with a total value of $29,993.20. Following the purchase, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 53.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rani Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RANI. Janney Montgomery Scott LLC acquired a new position in Rani Therapeutics in the 4th quarter valued at about $37,000. Marshall Wace LLP purchased a new stake in shares of Rani Therapeutics during the 2nd quarter valued at approximately $81,000. King Luther Capital Management Corp lifted its holdings in Rani Therapeutics by 44.5% in the third quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after acquiring an additional 25,000 shares during the last quarter. Geode Capital Management LLC grew its position in Rani Therapeutics by 14.3% in the third quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after acquiring an additional 21,527 shares during the period. Finally, Stifel Financial Corp increased its stake 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 acquiring an additional 135,148 shares during the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

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.