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

Capricor Therapeutics Inc (NASDAQ:CAPR)’s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. 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.

The biotechnology company reported ($0.16) earnings per share for the quarter, topping 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 company had revenue of $11.13 million for the quarter, compared to analysts’ expectations of $9.87 million.

Wall Street Analyst Weigh In

CAPR has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Capricor Therapeutics in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $77.00 price objective on shares of Capricor Therapeutics in a report on Monday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Capricor Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Institutional Investors Weigh In On Capricor Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its holdings in shares of Capricor Therapeutics by 54.1% in the 4th 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 period. The Manufacturers Life Insurance Company lifted its holdings in Capricor Therapeutics by 22.4% in the fourth 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 period. Invesco Ltd. boosted its position in Capricor Therapeutics by 20.5% in the 4th quarter. Invesco Ltd. now owns 14,678 shares of the biotechnology company’s stock worth $203,000 after purchasing an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Capricor Therapeutics by 172.8% in the 4th quarter. Russell Investments Group Ltd. now owns 4,652 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 2,947 shares during the period. Finally, Corebridge Financial Inc. boosted its stake in shares of Capricor Therapeutics by 32.2% during the 4th quarter. Corebridge Financial Inc. now owns 18,212 shares of the biotechnology company’s stock worth $251,000 after acquiring an additional 4,434 shares in the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

Capricor Therapeutics Price Performance

The company’s fifty day simple moving average is $14.05 and its 200-day simple moving average is $14.50. The firm has a market capitalization of $632.21 million, a PE ratio of -13.20 and a beta of 4.10.

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.