Capricor Therapeutics (NASDAQ:CAPR) Stock Falls 6% – Here’s What Happened

Capricor Therapeutics, Inc. (NASDAQ:CAPR) traded down 6% on Thursday. The stock traded as low as $8.91 and last traded at $8.9050. Approximately 1,753,203 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 3,128,219 shares. The stock had previously closed at $9.47.

Wall Street Analysts Forecast Growth

CAPR has been the subject of several research reports. JonesTrading cut Capricor Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, July 31st. B. Riley Financial raised Capricor Therapeutics from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.00 to $21.00 in a report on Monday, September 14th. Piper Sandler upgraded Capricor Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Tuesday, September 1st. Cantor Fitzgerald raised Capricor Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Friday, August 14th. Finally, Maxim Group lowered shares of Capricor Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.25.

Capricor Therapeutics Trading Up 0.1%

The stock’s 50 day moving average price is $7.53 and its 200 day moving average price is $21.11. The company has a market cap of $520.35 million, a price-to-earnings ratio of -3.65 and a beta of 0.61.

Capricor Therapeutics (NASDAQ:CAPR) last announced its quarterly earnings data on Thursday, August 13th. The biotechnology company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.11). On average, equities analysts expect that Capricor Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capricor Therapeutics

Hedge funds have recently made changes to their positions in the stock. Montanova Capital LLC increased its holdings in shares of Capricor Therapeutics by 7.2% during the 2nd quarter. Montanova Capital LLC now owns 4,092,784 shares of the biotechnology company’s stock worth $98,554,000 after buying an additional 274,184 shares during the last quarter. Bank of America Corp DE grew its position in Capricor Therapeutics by 672.0% during the first quarter. Bank of America Corp DE now owns 415,483 shares of the biotechnology company’s stock valued at $12,631,000 after acquiring an additional 361,664 shares during the period. SB Capital Management Inc acquired a new stake in Capricor Therapeutics during the fourth quarter worth about $11,544,000. Walleye Capital LLC purchased a new position in shares of Capricor Therapeutics in the 1st quarter worth about $5,397,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Capricor Therapeutics by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 130,730 shares of the biotechnology company’s stock valued at $3,974,000 after purchasing an additional 12,366 shares in the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Capricor Therapeutics Company Profile

Capricor Therapeutics, Inc is a biotechnology company focused on developing cell- and exosome-based therapies for serious diseases. The company’s programs are designed to use regenerative medicine and targeted delivery technologies to address conditions with limited treatment options.

Its leading therapeutic candidate is deramiocel, also known as CAP-1002, an allogeneic cell therapy derived from cardiosphere-derived cells. The program has been studied primarily for Duchenne muscular dystrophy, a genetic disorder that causes progressive muscle weakness and cardiac complications.