Capricor Therapeutics, Inc. (NASDAQ:CAPR – Get Free Report) dropped 9.3% during trading on Tuesday. The company traded as low as $9.02 and last traded at $8.9320. Approximately 3,207,720 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 3,156,311 shares. The stock had previously closed at $9.85.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on CAPR. JonesTrading cut shares of Capricor Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Alliance Global Partners cut shares of Capricor Therapeutics from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Tuesday, July 28th. Cantor Fitzgerald upgraded Capricor Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Friday, August 14th. Wall Street Zen cut Capricor Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Maxim Group downgraded shares of Capricor Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.25.
Check Out Our Latest Research Report on Capricor Therapeutics
Capricor Therapeutics Price Performance
The business’s 50-day simple moving average is $8.09 and its 200-day simple moving average is $20.13. The company has a market cap of $518.73 million, a price-to-earnings ratio of -3.62 and a beta of 0.80.
Capricor Therapeutics (NASDAQ:CAPR – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The biotechnology company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.11). As a group, sell-side analysts forecast that Capricor Therapeutics, Inc. will post -1.71 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Montanova Capital LLC boosted its position in Capricor Therapeutics by 7.2% during the second quarter. Montanova Capital LLC now owns 4,092,784 shares of the biotechnology company’s stock worth $98,554,000 after acquiring an additional 274,184 shares during the last quarter. Bank of America Corp DE raised its holdings in 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 acquiring an additional 361,664 shares during the last quarter. Walleye Capital LLC acquired a new position in Capricor Therapeutics in the 1st quarter valued at $5,397,000. Bank of New York Mellon Corp raised its holdings in 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 purchased a new position in shares of Capricor Therapeutics during the 1st quarter worth $3,463,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.
About Capricor Therapeutics
Capricor Therapeutics, Inc. is a biotechnology company focused on developing cell and exosome-based therapies for serious diseases. The company’s research and development programs are designed to address conditions involving muscle degeneration, inflammation and tissue damage. Capricor’s lead investigational product is deramiocel, also known as CAP-1002, an allogeneic cardiac-derived cell therapy being developed for Duchenne muscular dystrophy. The company has also developed an exosome-based technology platform intended to support the delivery of therapeutic proteins, nucleic acids and other biological materials.
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