Fred Alger Management LLC Purchases Shares of 26,241 Capricor Therapeutics Inc (NASDAQ:CAPR)

Fred Alger Management LLC acquired a new stake in shares of Capricor Therapeutics Inc (NASDAQ:CAPR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,241 shares of the biotechnology company’s stock, valued at approximately $399,000. Fred Alger Management LLC owned about 0.06% of Capricor Therapeutics as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Capricor Therapeutics by 17.2% during the first quarter. Vanguard Group Inc. now owns 1,365,903 shares of the biotechnology company’s stock valued at $9,274,000 after acquiring an additional 200,499 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Capricor Therapeutics by 158.7% during the 2nd quarter. Renaissance Technologies LLC now owns 137,500 shares of the biotechnology company’s stock valued at $656,000 after purchasing an additional 84,350 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Capricor Therapeutics in the 2nd quarter valued at $426,000. Bank of New York Mellon Corp boosted its holdings in Capricor Therapeutics by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 79,782 shares of the biotechnology company’s stock worth $381,000 after buying an additional 9,040 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Capricor Therapeutics by 25.2% during the third quarter. Oppenheimer & Co. Inc. now owns 68,408 shares of the biotechnology company’s stock valued at $1,040,000 after buying an additional 13,762 shares during the period. Institutional investors and hedge funds own 21.68% of the company’s stock.

Capricor Therapeutics Stock Performance

NASDAQ CAPR opened at $19.01 on Monday. The business has a fifty day moving average price of $18.03 and a 200 day moving average price of $9.44. The company has a market cap of $864.38 million, a P/E ratio of -17.93 and a beta of 4.00. Capricor Therapeutics Inc has a one year low of $2.90 and a one year high of $23.40.

Wall Street Analysts Forecast Growth

CAPR has been the topic of several recent analyst reports. Piper Sandler initiated coverage on shares of Capricor Therapeutics in a research note on Monday, October 21st. They set an “overweight” rating and a $35.00 target price on the stock. Maxim Group raised their price objective on Capricor Therapeutics from $12.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Cantor Fitzgerald upped their target price on Capricor Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $77.00 price target on shares of Capricor Therapeutics in a research note on Thursday, November 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $15.00 price target on shares of Capricor Therapeutics in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.50.

Insider Activity

In other Capricor Therapeutics news, major shareholder Shinyaku Co Ltd Nippon acquired 2,798,507 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $5.36 per share, with a total value of $14,999,997.52. Following the purchase, the insider now owns 7,090,351 shares in the company, valued at approximately $38,004,281.36. The trade was a 65.21 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.00% of the company’s stock.

Capricor Therapeutics Profile

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.