Rani Therapeutics (NASDAQ:RANI) Trading 1.6% Higher – Time to Buy?

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI)’s share price shot up 1.6% during trading on Wednesday . The company traded as high as $1.34 and last traded at $1.30. 430,540 shares traded hands during trading, a decline of 54% from the average session volume of 934,388 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

Several analysts have recently issued reports on RANI shares. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rani Therapeutics in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Rani Therapeutics Stock Performance

The company’s fifty day moving average price is $1.36 and its 200-day moving average price is $1.17. The stock has a market cap of $157.96 million, a P/E ratio of -1.65 and a beta of 0.41.

Institutional Investors Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in Rani Therapeutics in the 4th quarter valued at $40,000. Janney Montgomery Scott LLC lifted its position in shares of Rani Therapeutics by 102.9% during the second quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company’s stock worth $28,000 after purchasing an additional 28,000 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Rani Therapeutics during the fourth quarter valued at $93,000. Farallon Capital Management LLC bought a new position in shares of Rani Therapeutics in the fourth quarter worth about $105,000. Finally, Bridgeway Capital Management LLC purchased a new position in Rani Therapeutics in the 4th quarter worth about $155,000. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

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.