Capricor Therapeutics (NASDAQ:CAPR) Trading 6.6% Higher - Here's What Happened

Capricor Therapeutics Inc (NASDAQ:CAPR - Get Free Report)'s share price shot up 6.6% during trading on Thursday . The company traded as high as $13.30 and last traded at $13.48. 457,699 shares were traded during trading, a decline of 66% from the average session volume of 1,334,590 shares. The stock had previously closed at $12.65.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Cantor Fitzgerald boosted 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. HC Wainwright reaffirmed a "buy" rating and set a $77.00 target price on shares of Capricor Therapeutics in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.50.

Capricor Therapeutics Price Performance

The company has a market cap of $594.29 million, a PE ratio of -12.33 and a beta of 4.10. The business's 50 day moving average is $14.29 and its 200-day moving average is $14.23.

Institutional Investors Weigh In On Capricor Therapeutics

Institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. increased its holdings in Capricor Therapeutics by 54.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,832 shares of the biotechnology company's stock valued at $53,000 after buying an additional 1,345 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Capricor Therapeutics by 22.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,919 shares of the biotechnology company's stock valued at $178,000 after acquiring an additional 2,361 shares during the last quarter. Invesco Ltd. raised its position in shares of Capricor Therapeutics by 20.5% during the 4th quarter. Invesco Ltd. now owns 14,678 shares of the biotechnology company's stock worth $203,000 after acquiring an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Capricor Therapeutics by 172.8% during the 4th quarter. Russell Investments Group Ltd. now owns 4,652 shares of the biotechnology company's stock worth $64,000 after acquiring an additional 2,947 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its stake in Capricor Therapeutics by 32.2% during the fourth quarter. Corebridge Financial Inc. now owns 18,212 shares of the biotechnology company's stock worth $251,000 after purchasing an additional 4,434 shares during the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

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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.