Rani Therapeutics Holdings, Inc. (NASDAQ:RANI – Get Free Report)’s stock price traded up 14.3% during mid-day trading on Wednesday . The company traded as high as $8.75 and last traded at $7.85. 1,398,902 shares changed hands during trading, an increase of 1,149% from the average session volume of 111,995 shares. The stock had previously closed at $6.87.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Rani Therapeutics from $21.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. HC Wainwright reduced their price objective on Rani Therapeutics from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Finally, Wedbush restated an “outperform” rating and set a $8.00 price objective on shares of Rani Therapeutics in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.50.
Read Our Latest Stock Analysis on Rani Therapeutics
Rani Therapeutics Stock Up 14.3 %
Rani Therapeutics (NASDAQ:RANI – Get Free Report) last announced its earnings results on Wednesday, March 20th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.04. Equities research analysts predict that Rani Therapeutics Holdings, Inc. will post -0.94 earnings per share for the current year.
Institutional Trading of Rani Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Rani Therapeutics by 352.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,525 shares of the company’s stock worth $27,000 after buying an additional 5,082 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Rani Therapeutics by 83.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,048 shares of the company’s stock worth $29,000 after buying an additional 3,211 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Rani Therapeutics in the 4th quarter worth $76,000. Bank of America Corp DE raised its stake in shares of Rani Therapeutics by 250.9% in the 1st quarter. Bank of America Corp DE now owns 13,451 shares of the company’s stock worth $69,000 after buying an additional 9,618 shares in the last quarter. Finally, HRT Financial LP bought a new stake in shares of Rani Therapeutics in the 1st quarter worth $93,000. Institutional investors own 30.19% of the company’s stock.
Rani Therapeutics Company Profile
Rani Therapeutics Holdings, Inc operates as a clinical stage biotherapeutics company that develops orally administered biologics. The company develops the RaniPill capsule, a drug-agnostic oral delivery platform to deliver a variety of drug substances, including large molecules, such as peptides, proteins, and antibodies.
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