Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) shares traded down 4.3% during trading on Wednesday . The stock traded as low as $2.07 and last traded at $2.21. 69,824 shares changed hands during trading, a decline of 25% from the average session volume of 93,239 shares. The stock had previously closed at $2.31.
Several equities research analysts recently issued reports on the company. Maxim Group began coverage on Rani Therapeutics in a research note on Friday, June 14th. They issued a "buy" rating and a $15.00 price target for the company. Rodman & Renshaw assumed coverage on Rani Therapeutics in a research report on Thursday, June 13th. They set a "buy" rating and a $10.00 target price for the company. Oppenheimer began coverage on Rani Therapeutics in a research report on Friday, August 2nd. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, HC Wainwright dropped their price target on Rani Therapeutics from $13.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, August 16th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $11.71.
Read Our Latest Stock Analysis on RANI
The stock has a 50 day moving average price of $2.62 and a 200 day moving average price of $3.93. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $118.04 million, a price-to-earnings ratio of -1.71 and a beta of 0.17.
Rani Therapeutics (NASDAQ:RANI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.03. As a group, analysts forecast that Rani Therapeutics Holdings, Inc. will post -0.98 EPS for the current year.
An institutional investor recently bought a new position in Rani Therapeutics stock. Marshall Wace LLP bought a new position in shares of Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,247 shares of the company's stock, valued at approximately $81,000. Hedge funds and other institutional investors own 30.19% of the company's stock.
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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