Rani Therapeutics (NASDAQ:RANI) Earns “Buy” Rating from Chardan Capital

Rani Therapeutics (NASDAQ:RANI)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research report issued to clients and investors on Thursday, Benzinga reports.

Several other research firms have also weighed in on RANI. HC Wainwright reissued a “buy” rating on shares of Rani Therapeutics in a research note on Tuesday, October 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rani Therapeutics in a report on Thursday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rani Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $8.33.

Rani Therapeutics Stock Performance

RANI traded down $0.02 during trading on Thursday, reaching $0.59. The company had a trading volume of 193,273 shares, compared to its average volume of 909,914. Rani Therapeutics has a 12-month low of $0.57 and a 12-month high of $2.63. The company has a market cap of $81.97 million, a price-to-earnings ratio of -2.18 and a beta of 0.69. The firm’s 50-day simple moving average is $0.79 and its 200 day simple moving average is $0.83.

Rani Therapeutics (NASDAQ:RANI) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.71 million for the quarter, compared to analysts’ expectations of $0.93 million. On average, sell-side analysts expect that Rani Therapeutics will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. bought a new position in Rani Therapeutics during the 2nd quarter worth approximately $5,703,000. Kestra Private Wealth Services LLC increased its stake in shares of Rani Therapeutics by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 265,159 shares of the company’s stock valued at $195,000 after purchasing an additional 10,347 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Rani Therapeutics by 155.5% in the 2nd quarter. Squarepoint Ops LLC now owns 41,902 shares of the company’s stock worth $32,000 after purchasing an additional 25,501 shares during the last quarter. 30.19% of the stock is currently owned by hedge funds and other institutional investors.

About Rani Therapeutics

Rani Therapeutics Holdings, Inc is a clinical-stage biotherapeutics company developing technology designed to deliver biologic medicines orally. Its proprietary RaniPill platform is an ingestible robotic capsule intended to transport biologic drugs through the stomach and release them into the small intestine, where they can be absorbed into the bloodstream. The approach is intended to address the limitations of many biologic therapies, which are commonly administered by injection or infusion.

The company is advancing the RaniPill platform for potential use with a range of large-molecule medicines, including peptides, proteins and antibodies.