Capricor Therapeutics (NASDAQ:CAPR) Shares Gap Up on 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 traded.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $77.00 target price on shares of Capricor Therapeutics in a research report on Monday, March 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Capricor Therapeutics in a research report on Thursday. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Capricor Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Institutional Investors Weigh In On Capricor Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its stake in Capricor Therapeutics by 54.1% in the fourth 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 last quarter. The Manufacturers Life Insurance Company raised its stake 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 buying an additional 2,361 shares during the last quarter. Invesco Ltd. raised its stake in Capricor Therapeutics by 20.5% in the fourth quarter. Invesco Ltd. now owns 14,678 shares of the biotechnology company’s stock valued at $203,000 after buying an additional 2,500 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Capricor Therapeutics by 172.8% in the fourth 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. increased its holdings in shares of Capricor Therapeutics by 32.2% in the fourth quarter. Corebridge Financial Inc. now owns 18,212 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 4,434 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Capricor Therapeutics Price Performance

The business has a fifty day moving average price of $14.06 and a two-hundred day moving average price of $14.55. The firm has a market capitalization of $584.74 million, a price-to-earnings ratio of -12.13 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.