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

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

Rani Therapeutics Price Performance

RANI opened at $1.43 on Wednesday. Rani Therapeutics has a 1 year low of $1.24 and a 1 year high of $8.75. The company’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $2.01. The stock has a market capitalization of $81.92 million, a PE ratio of -1.35 and a beta of 0.16. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.60 and a current ratio of 1.60.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $9.00 price target on shares of Rani Therapeutics in a report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Rani Therapeutics in a research note on Friday, February 7th. Five equities 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 a consensus rating of “Buy” and an average target price of $12.33.

Insider Transactions at Rani Therapeutics

In related news, insider Kate Mckinley acquired 17,960 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $1.67 per share, for a total transaction of $29,993.20. Following the transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 53.30% of the company’s stock.

Hedge Funds Weigh In On Rani Therapeutics

A number of large investors have recently bought and sold shares of RANI. Janney Montgomery Scott LLC acquired a new stake in shares of Rani Therapeutics during the 4th quarter worth $37,000. Virtu Financial LLC purchased a new stake in Rani Therapeutics during the fourth quarter valued at about $62,000. Insigneo Advisory Services LLC acquired a new stake in Rani Therapeutics during the fourth quarter worth about $65,000. Two Sigma Advisers LP purchased a new position in shares of Rani Therapeutics in the 4th quarter worth about $151,000. Finally, King Luther Capital Management Corp lifted its stake in shares of Rani Therapeutics by 44.5% in the 3rd quarter. King Luther Capital Management Corp now owns 81,129 shares of the company’s stock valued at $175,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other 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 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.