Capricor Therapeutics (NASDAQ:CAPR) Stock Price Down 6% - Here's What Happened

Shares of Capricor Therapeutics Inc (NASDAQ:CAPR - Get Free Report) were down 6% on Tuesday . The company traded as low as $11.90 and last traded at $12.11. Approximately 317,967 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,357,926 shares. The stock had previously closed at $12.88.

Analyst Upgrades and Downgrades

Several research firms recently commented on CAPR. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Capricor Therapeutics in a report on Thursday. HC Wainwright reaffirmed a "buy" rating and set a $77.00 target price on shares of Capricor Therapeutics in a report on Monday, March 17th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Capricor Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $34.50.

Capricor Therapeutics Stock Down 10.4 %

The company has a market cap of $584.74 million, a PE ratio of -12.13 and a beta of 4.10. The business has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $14.55.

Capricor Therapeutics (NASDAQ:CAPR - Get Free Report) last released its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.15. The business had revenue of $11.13 million for the quarter, compared to the consensus estimate of $9.87 million. Capricor Therapeutics had a negative return on equity of 112.95% and a negative net margin of 146.86%. On average, research analysts forecast that Capricor Therapeutics Inc will post -1.21 EPS for the current fiscal year.

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Hedge Funds Weigh In On Capricor Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CAPR. The Manufacturers Life Insurance Company purchased a new position in shares of Capricor Therapeutics in the third quarter valued at approximately $161,000. FMR LLC purchased a new position in shares of Capricor Therapeutics in the third quarter valued at approximately $370,000. BNP Paribas Financial Markets lifted its position in shares of Capricor Therapeutics by 868.7% in the third quarter. BNP Paribas Financial Markets now owns 17,699 shares of the biotechnology company's stock valued at $269,000 after acquiring an additional 15,872 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Capricor Therapeutics in the third quarter valued at approximately $399,000. Finally, PFM Health Sciences LP acquired a new stake in shares of Capricor Therapeutics in the third quarter valued at approximately $2,324,000. Hedge funds and other institutional investors own 21.68% of the company's stock.

Capricor Therapeutics Company Profile

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.