Rani Therapeutics (NASDAQ:RANI) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rani Therapeutics (NASDAQ:RANI) in a report issued on Friday morning,Benzinga reports. They currently have a $11.00 price target on the stock.

A number of other research firms have also commented on RANI. Weiss Ratings reissued a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. Maxim Group increased their price target on shares of Rani Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rani Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Rani Therapeutics Stock Performance

NASDAQ RANI opened at $1.40 on Friday. The firm has a 50-day simple moving average of $1.63 and a 200 day simple moving average of $1.02. The stock has a market cap of $170.11 million, a PE ratio of -1.77 and a beta of 0.42. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87.

Rani Therapeutics (NASDAQ:RANI) last issued its earnings results on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Research analysts forecast that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Rani Therapeutics

In other news, Director Mir A. Imran acquired 2,083,334 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of $0.60 per share, for a total transaction of $1,250,000.40. Following the completion of the transaction, the director directly owned 2,083,334 shares in the company, valued at $1,250,000.40. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder South Cone Investments Limited sold 4,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $2.77, for a total value of $11,080,000.00. Following the completion of the transaction, the insider directly owned 2,379,194 shares in the company, valued at approximately $6,590,367.38. This trade represents a 62.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 26.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kestra Private Wealth Services LLC raised its position in Rani Therapeutics by 44.8% in the third quarter. Kestra Private Wealth Services LLC now owns 226,142 shares of the company’s stock worth $113,000 after acquiring an additional 70,002 shares during the period. Citadel Advisors LLC boosted 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 valued at $226,000 after buying an additional 301,193 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Rani Therapeutics by 80.0% during the third quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock worth $75,000 after purchasing an additional 66,667 shares in the last quarter. Armistice Capital LLC purchased a new stake in Rani Therapeutics during the second quarter valued at about $1,619,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Rani Therapeutics by 102.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock valued at $28,000 after buying an additional 28,000 shares in the last quarter. Hedge funds and other institutional investors own 30.19% of the company’s stock.

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.