Canaccord Genuity Group Reiterates Buy Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 482.52% from the company’s previous close.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Friday, February 7th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.33.

Rani Therapeutics Stock Performance

NASDAQ RANI traded up $0.08 during trading on Wednesday, reaching $1.55. The company’s stock had a trading volume of 78,962 shares, compared to its average volume of 1,355,760. The business’s fifty day moving average price is $1.46 and its 200-day moving average price is $2.06. Rani Therapeutics has a twelve month low of $1.24 and a twelve month high of $8.75. 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 firm has a market cap of $88.51 million, a price-to-earnings ratio of -1.46 and a beta of 0.16.

Insider Activity at Rani Therapeutics

In other Rani Therapeutics 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 purchased at an average cost 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 of the company’s stock, valued at approximately $29,993.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RANI. Janney Montgomery Scott LLC acquired a new position in Rani Therapeutics in the fourth quarter worth about $37,000. Virtu Financial LLC acquired a new stake in shares of Rani Therapeutics in the fourth quarter valued at $62,000. Insigneo Advisory Services LLC acquired a new position in shares of Rani Therapeutics during the fourth quarter worth approximately $65,000. Two Sigma Advisers LP bought a new position in Rani Therapeutics in the 4th quarter worth approximately $151,000. Finally, King Luther Capital Management Corp lifted its holdings in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after buying an additional 25,000 shares in the last quarter. 30.19% of the stock is owned by institutional investors.

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.