Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Receives $8.50 Average Price Target from Analysts

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) has earned a consensus rating of “Moderate Buy” from the four research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $8.3333.

A number of research firms have commented on RANI. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Rani Therapeutics in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rani Therapeutics in a report on Monday, December 29th.

Rani Therapeutics Stock Performance

RANI opened at $1.37 on Friday. Rani Therapeutics has a twelve month low of $0.39 and a twelve month high of $3.87. The firm has a market cap of $166.47 million, a PE ratio of -1.73 and a beta of 0.41. The firm’s fifty day moving average is $1.34 and its two-hundred day moving average is $1.21.

Institutional Investors Weigh In On Rani Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Rani Therapeutics during the fourth quarter valued at $69,000. Millennium Management LLC bought a new position in Rani Therapeutics in the 4th quarter valued at approximately $220,000. Bridgeway Capital Management LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter worth $155,000. 683 Capital Management LLC bought a new position in Rani Therapeutics in the 4th quarter worth $658,000. Finally, RA Capital Management L.P. purchased a new stake in Rani Therapeutics in the 4th quarter worth $11,475,000. Institutional investors own 30.19% of the company’s stock.

About Rani Therapeutics

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.