HC Wainwright Reaffirms Buy Rating for Rani Therapeutics (NASDAQ:RANI)

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $11.00 price target on the stock.

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

Rani Therapeutics Price Performance

NASDAQ:RANI opened at $1.39 on Friday. The stock has a market cap of $168.90 million, a P/E ratio of -1.76 and a beta of 0.42. The business’s 50-day moving average price is $1.64 and its two-hundred day moving average price is $1.01. 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 quarterly earnings data on Thursday, November 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). On average, equities research analysts expect that Rani Therapeutics will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Rani Therapeutics

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

Institutional Trading of Rani Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Well Done LLC purchased a new stake in shares of Rani Therapeutics during the second quarter valued at approximately $27,000. Janney Montgomery Scott LLC raised its holdings in 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 during the last quarter. Armistice Capital LLC purchased a new stake in Rani Therapeutics during the 2nd quarter valued at $1,619,000. CWA Asset Management Group LLC grew its holdings in Rani Therapeutics by 80.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 150,000 shares of the company’s stock worth $75,000 after acquiring an additional 66,667 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in Rani Therapeutics by 199.0% in the 3rd quarter. Citadel Advisors LLC now owns 452,542 shares of the company’s stock worth $226,000 after acquiring an additional 301,193 shares during the last quarter. 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.