Rani Therapeutics Target of Unusually Large Options Trading (NASDAQ:RANI)

Key Points

• Rani Therapeutics experienced a significant increase in options trading, with a total of 37,490 call options bought, marking a 4,337% rise over typical daily volumes.
• The stock is currently trading at $2.25 with an average volume of about 170.5 million shares, indicating heightened investor interest.
• Equities analysts hold a consensus rating of "Moderate Buy" on the stock, with a price target increase from $5.00 to $10.00 by Maxim Group.

Rani Therapeutics Holdings, Inc. (NASDAQ:RANI - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders bought 37,490 call options on the company. This is an increase of 4,337% compared to the typical daily volume of 845 call options.

Rani Therapeutics Price Performance

Shares of Rani Therapeutics stock traded up $0.61 during trading on Monday, hitting $2.25. 170,489,925 shares of the company's stock traded hands, compared to its average volume of 4,319,677. Rani Therapeutics has a 1 year low of $0.39 and a 1 year high of $2.82. The stock has a market capitalization of $161.71 million, a P/E ratio of -2.47 and a beta of -0.02. The business has a 50-day simple moving average of $0.53 and a 200-day simple moving average of $0.65.

Rani Therapeutics (NASDAQ:RANI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, equities analysts predict that Rani Therapeutics will post -1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Rani Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Rani Therapeutics in a research report on Wednesday, October 8th. Finally, Maxim Group increased their price objective on Rani Therapeutics from $5.00 to $10.00 and gave the company a "buy" rating in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RANI. Well Done LLC bought a new position in shares of Rani Therapeutics in the second quarter worth about $27,000. Janney Montgomery Scott LLC increased its stake in Rani Therapeutics by 102.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 55,200 shares of the company's stock worth $28,000 after acquiring an additional 28,000 shares during the last quarter. King Luther Capital Management Corp increased its stake in Rani Therapeutics by 75.8% in the 1st quarter. King Luther Capital Management Corp now owns 58,000 shares of the company's stock worth $73,000 after acquiring an additional 25,000 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Rani Therapeutics in the 1st quarter worth approximately $105,000. Finally, Kestra Private Wealth Services LLC increased its stake in Rani Therapeutics by 16.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 139,156 shares of the company's stock worth $175,000 after acquiring an additional 19,536 shares during the last quarter. Institutional investors own 30.19% of the company's stock.

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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