Rani Therapeutics Holdings, Inc. (NASDAQ:RANI) Short Interest Down 27.9% in April

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 1,240,000 shares, a drop of 27.9% from the April 15th total of 1,720,000 shares. Approximately 10.9% of the shares of the stock are sold short. Based on an average daily volume of 144,600 shares, the days-to-cover ratio is presently 8.6 days.

Institutional Trading of Rani Therapeutics

An institutional investor recently raised its position in Rani Therapeutics stock. Vanguard Group Inc. lifted its stake in Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 685,303 shares of the company's stock after purchasing an additional 16,956 shares during the period. Vanguard Group Inc. owned 1.37% of Rani Therapeutics worth $2,131,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Rani Therapeutics from $21.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, March 27th. BTIG Research boosted their price objective on shares of Rani Therapeutics from $7.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday. Wedbush reissued an "outperform" rating and set a $8.00 price target on shares of Rani Therapeutics in a research report on Tuesday, February 6th. Finally, HC Wainwright lifted their price objective on shares of Rani Therapeutics from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $12.20.

Rani Therapeutics Stock Performance

Shares of RANI traded down $0.47 on Friday, reaching $6.31. The company's stock had a trading volume of 112,320 shares, compared to its average volume of 288,532. The company has a debt-to-equity ratio of 1.43, a current ratio of 3.09 and a quick ratio of 6.36. Rani Therapeutics has a 12-month low of $1.82 and a 12-month high of $8.75. The stock has a market capitalization of $316.51 million, a P/E ratio of -4.89 and a beta of 0.33. The stock's 50 day simple moving average is $4.84 and its two-hundred day simple moving average is $3.61.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last posted 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. Research analysts forecast that Rani Therapeutics will post -0.98 earnings per share for the current fiscal year.

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.

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