Capricor Therapeutics (NASDAQ:CAPR) Stock Price Down 6.1% – Time to Sell?

Capricor Therapeutics Inc (NASDAQ:CAPR)’s share price was down 6.1% on Wednesday . The company traded as low as $13.95 and last traded at $14.16. Approximately 571,359 shares changed hands during trading, a decline of 26% from the average daily volume of 774,542 shares. The stock had previously closed at $15.07.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAPR. Cantor Fitzgerald boosted their price objective on shares of Capricor Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Piper Sandler began coverage on Capricor Therapeutics in a report on Monday, October 21st. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $77.00 price objective on shares of Capricor Therapeutics in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Capricor Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Capricor Therapeutics Stock Down 1.7 %

The company has a market cap of $640.67 million, a PE ratio of -13.29 and a beta of 4.08. The stock has a 50-day simple moving average of $14.34 and a 200 day simple moving average of $12.46.

Hedge Funds Weigh In On Capricor Therapeutics

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Capricor Therapeutics by 27.8% during the third quarter. State Street Corp now owns 512,313 shares of the biotechnology company’s stock worth $7,792,000 after acquiring an additional 111,291 shares during the period. Black Diamond Financial LLC acquired a new position in Capricor Therapeutics during the 4th quarter worth $3,833,000. Point72 Asset Management L.P. purchased a new stake in Capricor Therapeutics during the 3rd quarter worth about $3,806,000. PFM Health Sciences LP acquired a new stake in Capricor Therapeutics in the 3rd quarter valued at about $2,324,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Capricor Therapeutics by 51.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 111,336 shares of the biotechnology company’s stock valued at $1,536,000 after buying an additional 37,868 shares during the period. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.