Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Short Interest Update

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,810,000 shares, a growth of 48.7% from the January 31st total of 1,890,000 shares. Approximately 12.4% of the company’s stock are short sold. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is presently 2.8 days.

Insiders Place Their Bets

In other news, insider Kate Mckinley bought 17,960 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the purchase, the insider now directly owns 17,960 shares in the company, valued at $29,993.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Rani Therapeutics by 14.3% during the 3rd quarter. Geode Capital Management LLC now owns 172,261 shares of the company’s stock valued at $372,000 after acquiring an additional 21,527 shares during the last quarter. King Luther Capital Management Corp grew its position in Rani Therapeutics by 44.5% in 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 period. Janney Montgomery Scott LLC purchased a new stake in Rani Therapeutics during the 4th quarter valued at $37,000. Virtu Financial LLC bought a new position in shares of Rani Therapeutics during the 4th quarter valued at $62,000. Finally, Insigneo Advisory Services LLC purchased a new position in shares of Rani Therapeutics in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 30.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rani Therapeutics Stock Down 3.9 %

Shares of NASDAQ:RANI traded down $0.06 on Monday, hitting $1.47. 462,804 shares of the company traded hands, compared to its average volume of 1,277,601. Rani Therapeutics has a 52 week low of $1.24 and a 52 week high of $8.75. The stock has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $2.03. The company has a market cap of $84.21 million, a PE ratio of -1.39 and a beta of 0.16. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 2.34.

Rani Therapeutics Company Profile

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.