Rani Therapeutics (NASDAQ:RANI) Shares Gap Up to $9.40

Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANIGet Rating) gapped up before the market opened on Monday . The stock had previously closed at $9.40, but opened at $10.39. Rani Therapeutics shares last traded at $10.39, with a volume of 20 shares traded.

Separately, Wedbush began coverage on Rani Therapeutics in a research report on Monday. They set an “outperform” rating for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.50.

The firm has a market capitalization of $437.52 million and a P/E ratio of -11.19. The firm has a 50-day moving average of $11.74 and a two-hundred day moving average of $15.60.

Rani Therapeutics (NASDAQ:RANIGet Rating) last posted its earnings results on Wednesday, May 11th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.71. On average, research analysts predict that Rani Therapeutics Holdings, Inc. will post -2.35 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Stifel Financial Corp raised its position in Rani Therapeutics by 5.5% in the fourth quarter. Stifel Financial Corp now owns 40,050 shares of the company’s stock valued at $655,000 after purchasing an additional 2,100 shares during the last quarter. Bank of America Corp DE raised its position in Rani Therapeutics by 201.4% in the fourth quarter. Bank of America Corp DE now owns 4,422 shares of the company’s stock valued at $73,000 after purchasing an additional 2,955 shares during the last quarter. UBS Group AG bought a new position in Rani Therapeutics in the third quarter valued at about $55,000. JPMorgan Chase & Co. bought a new position in Rani Therapeutics in the fourth quarter valued at about $68,000. Finally, Vanguard Group Inc. raised its position in Rani Therapeutics by 1.6% in the first quarter. Vanguard Group Inc. now owns 290,107 shares of the company’s stock valued at $3,916,000 after purchasing an additional 4,561 shares during the last quarter. Hedge funds and other institutional investors own 2.31% of the company’s stock.

Rani Therapeutics Company Profile (NASDAQ:RANI)

Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a platform that is intended to replace subcutaneous or IV injection of biologics with oral dosing. Its product pipeline includes RT-101, an octreotide, which has completed Phase I clinical trial for the treatment of neuroendocrine tumors and acromegaly; RT-105, an anti-TNF-alpha antibody to treat psoriatic arthritis; RT-102, a parathyroid hormone that is in preclinical studies for the treatment of osteoporosis; RT-109, a human growth hormone to treat growth hormone deficiency; RT-110, a parathyroid hormone for the treatment of hypoparathyroidism; and RT-106, a basal insulin for the treatment of type 2 diabetes.

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