Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report) shares rose 14.3% on Wednesday . The stock traded as high as $8.75 and last traded at $7.85. Approximately 1,398,902 shares changed hands 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.
Analyst Ratings Changes
RANI has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $8.00 target price on shares of Rani Therapeutics in a report on Tuesday, February 6th. Canaccord Genuity Group reduced their target price on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, HC Wainwright reduced their target price on Rani Therapeutics from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, March 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $11.50.
Read Our Latest Report on RANI
Rani Therapeutics Trading Up 16.9 %
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. Analysts anticipate that Rani Therapeutics Holdings, Inc. will post -0.94 earnings per share for the current year.
Institutional Trading of Rani Therapeutics
A number of large investors have recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in Rani Therapeutics by 84.9% in the third quarter. Stifel Financial Corp now owns 141,904 shares of the company’s stock worth $309,000 after purchasing an additional 65,144 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Rani Therapeutics by 83.7% in the second 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. Renaissance Technologies LLC boosted its stake in Rani Therapeutics by 114.5% in the second quarter. Renaissance Technologies LLC now owns 88,201 shares of the company’s stock worth $363,000 after purchasing an additional 47,084 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Rani Therapeutics by 352.2% in the second 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. Finally, Susquehanna International Group LLP acquired a new position in Rani Therapeutics in the first quarter worth $365,000. 30.19% of the stock is currently owned by institutional investors.
About Rani Therapeutics
Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics for patients, physicians, and healthcare systems in the United States. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including oligonucleotides, peptides, proteins, and antibodies.
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