Capricor Therapeutics (NASDAQ:CAPR) Sees Strong Trading Volume – Here’s What Happened

Shares of Capricor Therapeutics Inc (NASDAQ:CAPR) saw strong trading volume on Friday . 413,080 shares were traded during trading, a decline of 47% from the previous session’s volume of 773,235 shares.The stock last traded at $15.54 and had previously closed at $14.96.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $77.00 target price on shares of Capricor Therapeutics in a research note on Thursday. Cantor Fitzgerald boosted their price objective 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. Maxim Group raised their target price on shares of Capricor Therapeutics from $12.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of Capricor Therapeutics in a research note on Monday, September 23rd. Finally, Piper Sandler initiated coverage on shares of Capricor Therapeutics in a research note on Monday, October 21st. They set an “overweight” rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Capricor Therapeutics Price Performance

The firm’s fifty day simple moving average is $16.70 and its 200 day simple moving average is $10.89. The company has a market capitalization of $709.79 million, a PE ratio of -14.73 and a beta of 4.08.

Institutional Trading of Capricor Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CAPR. Point72 Asset Management L.P. acquired a new position in Capricor Therapeutics in the third quarter valued at approximately $3,806,000. PFM Health Sciences LP acquired a new position in shares of Capricor Therapeutics in the 3rd quarter valued at $2,324,000. State Street Corp lifted its stake in shares of Capricor Therapeutics by 27.8% in the 3rd quarter. State Street Corp now owns 512,313 shares of the biotechnology company’s stock valued at $7,792,000 after purchasing an additional 111,291 shares during the period. Marshall Wace LLP purchased a new stake in Capricor Therapeutics during the second quarter worth $426,000. Finally, Renaissance Technologies LLC grew its position in Capricor Therapeutics by 158.7% during the second quarter. Renaissance Technologies LLC now owns 137,500 shares of the biotechnology company’s stock valued at $656,000 after buying an additional 84,350 shares during the period. 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.