Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Short Interest Up 48.7% in February

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, an increase of 48.7% from the January 31st total of 1,890,000 shares. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 2.8 days. Currently, 12.4% of the shares of the stock are short sold.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock traded down $0.04 during trading hours on Tuesday, reaching $1.43. The stock had a trading volume of 157,981 shares, compared to its average volume of 1,250,149. The stock’s 50 day moving average is $1.48 and its 200 day moving average is $2.02. The firm has a market capitalization of $81.92 million, a PE ratio of -1.35 and a beta of 0.16. Rani Therapeutics has a twelve month low of $1.24 and a twelve month high of $8.75. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34.

Insider Transactions at Rani Therapeutics

In related news, insider Kate Mckinley bought 17,960 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the acquisition, the insider now directly owns 17,960 shares of the company’s stock, valued at $29,993.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rani Therapeutics

Large investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in shares of Rani Therapeutics by 100.4% in the 3rd quarter. Stifel Financial Corp now owns 269,768 shares of the company’s stock valued at $583,000 after purchasing an additional 135,148 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rani Therapeutics by 14.3% in the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after buying an additional 21,527 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $37,000. King Luther Capital Management Corp grew its position in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after buying an additional 25,000 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in shares of Rani Therapeutics in the 4th quarter valued at $399,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Rani Therapeutics in a report on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $9.00 price target on shares of Rani Therapeutics in a report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rani Therapeutics currently has an average rating of “Buy” and an average target price of $12.33.

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.