Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.75.

RANI has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating on shares of Rani Therapeutics in a research report on Friday, August 21st. Weiss Ratings downgraded Rani Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 17th. Finally, Chardan Capital upgraded Rani Therapeutics to a “strong-buy” rating in a research report on Wednesday, August 26th.

Rani Therapeutics Price Performance

RANI opened at $0.76 on Wednesday. The company has a market capitalization of $105.83 million, a price-to-earnings ratio of -2.81 and a beta of 0.69. The firm has a 50-day moving average price of $0.82 and a 200-day moving average price of $0.87. Rani Therapeutics has a twelve month low of $0.45 and a twelve month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.71 million during the quarter, compared to the consensus estimate of $0.93 million. On average, sell-side analysts expect that Rani Therapeutics will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics news, CEO Talat Imran purchased 35,000 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were purchased at an average cost of $0.72 per share, with a total value of $25,200.00. Following the completion of the purchase, the chief executive officer owned 469,736 shares of the company’s stock, valued at $338,209.92. The trade was a 8.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.73% of the company’s stock.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in Rani Therapeutics by 155.5% during the second quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock valued at $32,000 after buying an additional 25,501 shares during the period. AWM Investment Company Inc. bought a new position in shares of Rani Therapeutics during the second quarter valued at about $5,703,000. Kestra Private Wealth Services LLC increased its holdings in shares of Rani Therapeutics by 4.1% in the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock worth $195,000 after buying an additional 10,347 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Rani Therapeutics in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a clinical-stage biopharmaceutical company developing oral delivery technologies for biologic medicines that are traditionally administered by injection or infusion. The company’s platform is designed to use a swallowable, robotic capsule to transport medicine through the stomach and release it in the small intestine, where the drug can be delivered into the body.

Rani’s technology, known as the RaniPill capsule, is intended to address challenges associated with injectable therapies, including the need for administration by a healthcare professional and patient reluctance toward injections.