Capricor Therapeutics (NASDAQ:CAPR) Stock Price Down 8.8% – Here’s What Happened

Capricor Therapeutics Inc (NASDAQ:CAPR) shares traded down 8.8% on Tuesday . The company traded as low as $17.85 and last traded at $17.91. 1,103,225 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 1,147,935 shares. The stock had previously closed at $19.64.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAPR. Piper Sandler initiated coverage on shares of Capricor Therapeutics in a report on Monday, October 21st. They issued an “overweight” rating and a $35.00 target price on the stock. Cantor Fitzgerald upped their price target on shares of Capricor Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. 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. HC Wainwright reiterated a “buy” rating and set a $77.00 price target on shares of Capricor Therapeutics in a report on Thursday, November 14th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $15.00 target price on shares of Capricor Therapeutics in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.50.

Capricor Therapeutics Stock Performance

The firm has a market capitalization of $771.63 million, a price-to-earnings ratio of -16.90 and a beta of 3.98. The company has a 50-day moving average of $18.31 and a 200-day moving average of $9.54.

Insider Activity at Capricor Therapeutics

In related news, major shareholder Shinyaku Co Ltd Nippon acquired 2,798,507 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $5.36 per share, for a total transaction of $14,999,997.52. Following the purchase, the insider now directly owns 7,090,351 shares in the company, valued at approximately $38,004,281.36. This trade represents a 65.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is owned by insiders.

Institutional Trading of Capricor Therapeutics

Hedge funds have recently made changes to their positions in the business. Main Street Financial Solutions LLC grew its position in Capricor Therapeutics by 37.5% during the 2nd 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 last quarter. SG Americas Securities LLC bought a new position in Capricor Therapeutics in the third quarter worth approximately $133,000. Rhumbline Advisers acquired a new position in Capricor Therapeutics during the second quarter worth $147,000. The Manufacturers Life Insurance Company bought a new stake in Capricor Therapeutics during the 3rd quarter worth approximately $161,000. Finally, Sassicaia Capital Advisers LLC bought a new position in Capricor Therapeutics during the 3rd quarter valued at $192,000. 21.68% of the stock is owned by institutional investors and hedge funds.

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.