Rani Therapeutics (NASDAQ:RANI) Given Buy Rating at Chardan Capital

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research note issued to investors on Thursday, Benzinga reports.

A number of other analysts have also commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rani Therapeutics in a research report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rani Therapeutics Price Performance

RANI traded up $0.02 during midday trading on Thursday, reaching $0.61. 287,919 shares of the company’s stock traded hands, compared to its average volume of 913,426. Rani Therapeutics has a 52 week low of $0.57 and a 52 week high of $2.63. The firm has a fifty day moving average of $0.80 and a two-hundred day moving average of $0.83. The stock has a market capitalization of $84.46 million, a price-to-earnings ratio of -2.24 and a beta of 0.69.

Rani Therapeutics (NASDAQ:RANI) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts forecast that Rani Therapeutics will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. purchased a new position in shares of Rani Therapeutics in the 2nd quarter valued at approximately $5,703,000. Squarepoint Ops LLC boosted its position in shares of 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 purchasing an additional 25,501 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in 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 purchasing an additional 10,347 shares during the period. Hedge funds and other institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a biotechnology company developing oral delivery technologies for biologic medicines that are typically administered by injection. The company’s platform is designed to transport therapeutic molecules through the stomach and release them in the small intestine, where they can be absorbed into the bloodstream.

Its primary technology, the RaniPill capsule, is a robotic oral delivery system intended to deliver biologics, peptides and other large-molecule therapies.