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

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

Separately, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $12.33.

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $1.54 on Wednesday. The firm has a market cap of $88.23 million, a P/E ratio of -1.45 and a beta of 0.16. The stock has a 50 day moving average of $1.47 and a two-hundred day moving average of $2.05. Rani Therapeutics has a 12 month low of $1.24 and a 12 month high of $8.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insiders Place Their Bets

In related news, insider Kate Mckinley bought 17,960 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $1.67 per share, with a total value of $29,993.20. Following the purchase, the insider now directly owns 17,960 shares of the company’s stock, valued at $29,993.20. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 53.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rani Therapeutics

A number of hedge funds have recently modified their holdings of the company. Stifel Financial Corp raised 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 purchasing an additional 135,148 shares during the period. Geode Capital Management LLC increased its holdings 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 buying an additional 21,527 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Rani Therapeutics in the fourth quarter worth approximately $37,000. King Luther Capital Management Corp increased its stake 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 acquiring an additional 25,000 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Rani Therapeutics in the fourth quarter valued at $399,000. Hedge funds and other 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.