Fred Alger Management LLC Acquires New Shares in Capricor Therapeutics Inc (NASDAQ:CAPR)

Fred Alger Management LLC bought a new position in shares of Capricor Therapeutics Inc (NASDAQ:CAPR) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 26,241 shares of the biotechnology company’s stock, valued at approximately $399,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC increased its position in shares of Capricor Therapeutics by 37.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 27,500 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 7,500 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Capricor Therapeutics during the third quarter valued at about $133,000. Rhumbline Advisers acquired a new stake in shares of Capricor Therapeutics during the second quarter valued at about $147,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Capricor Therapeutics in the 3rd quarter valued at approximately $161,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Capricor Therapeutics by 868.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,699 shares of the biotechnology company’s stock worth $269,000 after acquiring an additional 15,872 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Capricor Therapeutics Stock Performance

Shares of Capricor Therapeutics stock opened at $19.01 on Monday. The business has a 50-day simple moving average of $18.03 and a 200-day simple moving average of $9.44. Capricor Therapeutics Inc has a one year low of $2.90 and a one year high of $23.40. The company has a market cap of $864.38 million, a PE ratio of -17.93 and a beta of 4.00.

Insiders Place Their Bets

In other Capricor Therapeutics news, major shareholder Shinyaku Co Ltd Nippon purchased 2,798,507 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $5.36 per share, with a total value of $14,999,997.52. Following the acquisition, the insider now directly owns 7,090,351 shares of the company’s stock, valued at approximately $38,004,281.36. This represents a 65.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAPR. Oppenheimer reiterated an “outperform” rating and issued a $15.00 target price on shares of Capricor Therapeutics in a report on Monday, September 23rd. 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. Maxim Group raised their target price on Capricor Therapeutics from $12.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. HC Wainwright reiterated a “buy” rating and set a $77.00 price target on shares of Capricor Therapeutics in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald raised their price objective on shares of Capricor Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Capricor Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $34.50.

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.