Capricor Therapeutics (NASDAQ:CAPR) Stock Falls 9.3% After Earnings Miss

Capricor Therapeutics, Inc. (NASDAQ:CAPR)’s stock price traded down 9.3% on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.02 and last traded at $8.9320. 3,207,720 shares traded hands during mid-day trading, an increase of 2% from the average session volume of 3,156,311 shares. The stock had previously closed at $9.85.

The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.29).

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CAPR shares. Cantor Fitzgerald raised Capricor Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Capricor Therapeutics in a research note on Friday, September 11th. B. Riley Financial upgraded Capricor Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $5.00 to $21.00 in a report on Monday, September 14th. Piper Sandler raised Capricor Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Tuesday, September 1st. Finally, Maxim Group downgraded Capricor Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.77.

Institutional Trading of Capricor Therapeutics

Several hedge funds have recently added to or reduced their stakes in CAPR. Montanova Capital LLC grew its position in Capricor Therapeutics by 7.2% in the second quarter. Montanova Capital LLC now owns 4,092,784 shares of the biotechnology company’s stock valued at $98,554,000 after acquiring an additional 274,184 shares during the period. Bank of America Corp DE increased its stake in shares of Capricor Therapeutics by 672.0% in the 1st quarter. Bank of America Corp DE now owns 415,483 shares of the biotechnology company’s stock valued at $12,631,000 after buying an additional 361,664 shares during the period. Walleye Capital LLC acquired a new position in shares of Capricor Therapeutics in the 1st quarter valued at $5,397,000. Bank of New York Mellon Corp increased 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 acquiring an additional 12,366 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of Capricor Therapeutics in the 1st quarter valued at approximately $3,463,000. Institutional investors own 21.68% of the company’s stock.

Capricor Therapeutics Stock Down 8.7%

The company has a fifty day simple moving average of $8.09 and a two-hundred day simple moving average of $19.99. The stock has a market capitalization of $595.35 million, a P/E ratio of -3.88 and a beta of 0.80.

Capricor Therapeutics Company Profile

Capricor Therapeutics is a biotechnology company developing cell- and exosome-based therapies for serious diseases. Its research focuses on using these technologies to address conditions with limited treatment options. The company’s leading program is deramiocel, also known as CAP-1002, an investigational therapy made from donor-derived cardiac cells. Capricor is developing it for Duchenne muscular dystrophy, a rare genetic disorder that causes progressive muscle weakness. Capricor is also advancing an exosome-based technology platform for potential therapeutic applications.