Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Insider Purchases $29,993.20 in Stock

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) insider Kate Mckinley purchased 17,960 shares of the company’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $29,993.20. Following the completion of the purchase, the insider now owns 17,960 shares of the company’s stock, valued at approximately $29,993.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rani Therapeutics Trading Down 4.2 %

Rani Therapeutics stock traded down $0.07 during trading hours on Monday, reaching $1.59. The company had a trading volume of 813,769 shares, compared to its average volume of 546,883. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.60 and a quick ratio of 1.60. The company has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.85. The firm has a market cap of $91.09 million, a price-to-earnings ratio of -1.57 and a beta of 0.05. Rani Therapeutics Holdings, Inc. has a 12-month low of $1.58 and a 12-month high of $8.75.

Hedge Funds Weigh In On Rani Therapeutics

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Rani Therapeutics during the second quarter valued at approximately $81,000. Vanguard Group Inc. increased its stake in shares of Rani Therapeutics by 2.5% during the first quarter. Vanguard Group Inc. now owns 685,303 shares of the company’s stock valued at $2,131,000 after buying an additional 16,956 shares during the period. King Luther Capital Management Corp increased its stake in shares of Rani Therapeutics by 44.5% during the third 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 period. Geode Capital Management LLC increased its stake in shares of Rani Therapeutics by 14.3% during the third 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 period. Finally, Stifel Financial Corp boosted its position in shares of Rani Therapeutics by 100.4% during the third 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 in the last quarter. 30.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rani Therapeutics in a report on Tuesday, November 19th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $11.71.

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.