Capricor Therapeutics (NASDAQ:CAPR) Shares Down 2.9% – Here’s Why

Capricor Therapeutics Inc (NASDAQ:CAPR)’s stock price dropped 2.9% during mid-day trading on Tuesday . The stock traded as low as $13.61 and last traded at $13.72. Approximately 58,980 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,196,164 shares. The stock had previously closed at $14.13.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $15.00 target price on shares of Capricor Therapeutics in a research report on Monday, September 23rd. Piper Sandler assumed coverage on shares of Capricor Therapeutics in a research report on Monday, October 21st. They set an “overweight” rating and a $35.00 price objective on the stock. Maxim Group raised their target price on shares of Capricor Therapeutics from $12.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Cantor Fitzgerald lifted their price target on shares of Capricor Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $77.00 price objective on shares of Capricor Therapeutics in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Capricor Therapeutics Price Performance

The firm has a 50-day moving average price of $17.68 and a two-hundred day moving average price of $10.46. The firm has a market capitalization of $637.03 million, a P/E ratio of -13.22 and a beta of 3.98.

Institutional Investors Weigh In On Capricor Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Main Street Financial Solutions LLC increased its position in shares of Capricor Therapeutics by 37.5% during the second quarter. Main Street Financial Solutions LLC now owns 27,500 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 7,500 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Capricor Therapeutics in the third quarter valued at approximately $133,000. Rhumbline Advisers bought a new position in Capricor Therapeutics in the second quarter worth approximately $147,000. The Manufacturers Life Insurance Company purchased a new position in Capricor Therapeutics during the 3rd quarter worth $161,000. Finally, Sassicaia Capital Advisers LLC bought a new stake in Capricor Therapeutics during the 3rd quarter valued at $192,000. Institutional investors own 21.68% of the company’s stock.

About Capricor Therapeutics

Capricor Therapeutics, Inc (NASDAQ:CAPR) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of first-in-class biological therapeutics for the treatment of rare disorders. Capricor’s lead candidate, CAP-1002, is an allogeneic cell therapy that is currently in clinical development for the treatment of Duchenne muscular dystrophy.