Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Insider Kate Mckinley Purchases 17,960 Shares of Stock

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

Rani Therapeutics Stock Performance

Shares of RANI stock opened at $1.59 on Tuesday. The firm has a market capitalization of $91.09 million, a price-to-earnings ratio of -1.50 and a beta of 0.05. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.34. The business’s 50-day moving average price is $2.22 and its 200-day moving average price is $2.82. Rani Therapeutics Holdings, Inc. has a 12 month low of $1.58 and a 12 month high of $8.75.

Institutional Investors Weigh In On Rani Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RANI. Marshall Wace LLP acquired a new position in shares of Rani Therapeutics during the second quarter worth $81,000. King Luther Capital Management Corp raised its position in Rani Therapeutics by 44.5% during the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock worth $175,000 after purchasing an additional 25,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock worth $372,000 after buying an additional 21,527 shares during the period. Stifel Financial Corp grew 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 buying an additional 135,148 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Rani Therapeutics by 2.5% in 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. 30.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research report on Tuesday, November 19th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.