Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Given Average Rating of “Moderate Buy” by Brokerages

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned a consensus recommendation of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.3333.

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research note on Friday, January 9th.

Hedge Funds Weigh In On Rani Therapeutics

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in Rani Therapeutics by 519.8% during the 4th quarter. State Street Corp now owns 387,042 shares of the company’s stock worth $523,000 after buying an additional 324,600 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter valued at approximately $465,000. Goldman Sachs Group Inc. acquired a new stake in shares of Rani Therapeutics during the 4th quarter valued at approximately $386,000. Citadel Advisors LLC lifted its stake in Rani Therapeutics by 199.0% during the third quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after purchasing an additional 301,193 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Rani Therapeutics in the fourth quarter worth $220,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Rani Therapeutics Stock Up 2.2%

Shares of NASDAQ RANI opened at $1.38 on Friday. Rani Therapeutics has a fifty-two week low of $0.39 and a fifty-two week high of $3.87. The business has a 50 day moving average price of $1.34 and a two-hundred day moving average price of $1.20. The firm has a market cap of $167.68 million, a PE ratio of -1.75 and a beta of 0.41.

Rani Therapeutics Company Profile

Rani Therapeutics is a clinical-stage biopharmaceutical company developing oral delivery technologies for large-molecule drugs. The company’s proprietary RaniPill platform is designed to enable the gastrointestinal delivery of biologic therapies traditionally administered via injection. Through a swallowable capsule that autonomously deploys a microscopic injector in the small intestine, Rani aims to improve patient convenience and adherence for peptide and protein therapies, including insulin and other hormones.

Since its founding in 2012, Rani Therapeutics has advanced its lead programs through early-phase clinical trials, demonstrating proof-of-concept for oral insulin delivery.