Capricor Therapeutics (NASDAQ:CAPR) Shares Gap Up After Strong Earnings

Capricor Therapeutics Inc (NASDAQ:CAPR)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $12.22, but opened at $12.56. Capricor Therapeutics shares last traded at $13.79, with a volume of 401,510 shares changing hands.

The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.15. Capricor Therapeutics had a negative net margin of 146.86% and a negative return on equity of 112.95%. The firm had revenue of $11.13 million during the quarter, compared to analysts’ expectations of $9.87 million.

Analyst Ratings Changes

Several brokerages recently commented on CAPR. HC Wainwright reissued a “buy” rating and issued a $77.00 price target on shares of Capricor Therapeutics in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Capricor Therapeutics in a report on Thursday. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Institutional Investors Weigh In On Capricor Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. grew its holdings in shares of Capricor Therapeutics by 54.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,832 shares of the biotechnology company’s stock worth $53,000 after buying an additional 1,345 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Capricor Therapeutics by 172.8% during the fourth quarter. Russell Investments Group Ltd. now owns 4,652 shares of the biotechnology company’s stock worth $64,000 after buying an additional 2,947 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of Capricor Therapeutics during the fourth quarter worth $68,000. AlphaQuest LLC purchased a new stake in shares of Capricor Therapeutics during the fourth quarter worth $78,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Capricor Therapeutics by 625.0% during the fourth quarter. New York State Common Retirement Fund now owns 5,800 shares of the biotechnology company’s stock worth $80,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

Capricor Therapeutics Price Performance

The firm has a market cap of $652.95 million, a PE ratio of -13.55 and a beta of 4.10. The stock’s fifty day moving average price is $14.06 and its 200-day moving average price is $14.50.

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.