Shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) rose 14.3% on Wednesday . The company traded as high as $8.75 and last traded at $7.85. Approximately 1,398,902 shares were traded during mid-day trading, an increase of 1,149% from the average daily volume of 111,995 shares. The stock had previously closed at $6.87.
Analysts Set New Price Targets
RANI has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price target on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. HC Wainwright dropped their price objective on Rani Therapeutics from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Rani Therapeutics in a research note on Tuesday, February 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.50.
Read Our Latest Stock Analysis on Rani Therapeutics
Rani Therapeutics Price Performance
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last released its earnings results on Wednesday, March 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.04. Equities research analysts predict that Rani Therapeutics Holdings, Inc. will post -0.94 EPS for the current fiscal year.
Hedge Funds Weigh In On Rani Therapeutics
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Rani Therapeutics by 352.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,525 shares of the company’s stock worth $27,000 after purchasing an additional 5,082 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Rani Therapeutics by 83.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,048 shares of the company’s stock worth $29,000 after purchasing an additional 3,211 shares in the last quarter. Bank of America Corp DE increased its holdings in Rani Therapeutics by 250.9% during the 1st quarter. Bank of America Corp DE now owns 13,451 shares of the company’s stock worth $69,000 after purchasing an additional 9,618 shares in the last quarter. Jane Street Group LLC bought a new position in Rani Therapeutics during the 4th quarter worth about $76,000. Finally, HRT Financial LP bought a new position in Rani Therapeutics during the 1st quarter worth about $93,000. Institutional investors own 30.19% of the company’s stock.
About Rani Therapeutics
Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.
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