The Manufacturers Life Insurance Company Invests $161,000 in Capricor Therapeutics Inc (NASDAQ:CAPR)

The Manufacturers Life Insurance Company bought a new stake in shares of Capricor Therapeutics Inc (NASDAQ:CAPR) in the third quarter, Holdings Channel reports. The fund bought 10,558 shares of the biotechnology company’s stock, valued at approximately $161,000.

Other hedge funds also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC raised its stake in shares of 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 valued at $131,000 after buying an additional 7,500 shares during the last quarter. SG Americas Securities LLC purchased a new position in Capricor Therapeutics during the third quarter valued at approximately $133,000. Rhumbline Advisers purchased a new position in Capricor Therapeutics during the second quarter valued at approximately $147,000. Bank of New York Mellon Corp lifted its holdings in Capricor Therapeutics by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 79,782 shares of the biotechnology company’s stock valued at $381,000 after acquiring an additional 9,040 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Capricor Therapeutics in the 2nd quarter worth approximately $426,000. 21.68% of the stock is owned by hedge funds and other institutional investors.

Capricor Therapeutics Stock Up 4.7 %

Shares of NASDAQ CAPR opened at $13.88 on Tuesday. The firm has a market cap of $631.12 million, a price-to-earnings ratio of -13.09 and a beta of 3.98. The company’s 50-day simple moving average is $18.33 and its 200-day simple moving average is $10.13. Capricor Therapeutics Inc has a 52-week low of $3.52 and a 52-week high of $23.40.

Analyst Upgrades and Downgrades

CAPR has been the subject of several recent research reports. Piper Sandler began coverage on shares of Capricor Therapeutics in a report on Monday, October 21st. They set an “overweight” rating and a $35.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Capricor Therapeutics in a report on Thursday, November 14th. Maxim Group increased their target price on shares of Capricor Therapeutics from $12.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer restated an “outperform” rating and set a $15.00 target price on shares of Capricor Therapeutics in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald upped their price target on Capricor Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Insider Activity at Capricor Therapeutics

In other news, major shareholder Shinyaku Co Ltd Nippon purchased 2,798,507 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of $5.36 per share, for a total transaction of $14,999,997.52. Following the completion of the transaction, the insider now owns 7,090,351 shares of the company’s stock, valued at $38,004,281.36. This trade represents a 65.21 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 12.00% of the stock is currently owned by corporate insiders.

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.