Rani Therapeutics (NASDAQ:RANI) Receives “Buy” Rating from HC Wainwright

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $9.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 445.45% from the company’s previous close.

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $1.65 on Friday. Rani Therapeutics has a one year low of $1.24 and a one year high of $8.75. The company has a market cap of $94.53 million, a P/E ratio of -1.56 and a beta of 0.16. The firm’s fifty day moving average price is $1.51 and its two-hundred day moving average price is $2.16. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60.

Insider Activity

In other Rani Therapeutics news, insider Kate Mckinley bought 17,960 shares of Rani Therapeutics stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $1.67 per share, with a total value 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. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 53.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rani Therapeutics

Institutional investors have recently modified their holdings of the business. Stifel Financial Corp boosted its position in shares of 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 acquiring an additional 135,148 shares during the period. Geode Capital Management LLC lifted its position in Rani Therapeutics by 14.3% during the third 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 period. Marshall Wace LLP bought a new stake in Rani Therapeutics during the second quarter worth about $81,000. King Luther Capital Management Corp lifted its position in Rani Therapeutics by 44.5% during the third 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 period. Finally, Janney Montgomery Scott LLC bought a new stake in Rani Therapeutics during the fourth quarter worth about $37,000. Institutional investors 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.