Capricor Therapeutics Inc (CAPR) Stock Soars on Drug Data

Biotech stock Capricor Therapeutics Inc (CAPR) is on pace for its best finish since August

by Josh Selway

Published on Jun 16, 2016 at 2:52 PM
Updated on Jun 24, 2020 at 10:16 AM

Biotech stock Capricor Therapeutics Inc (NASDAQ:CAPR) is shooting higher today, picking up 14.5% at $4.75, thanks to upbeat data from the company's heart failure treatment. The shares were up as much as 30% earlier, and building off of Wednesday's 17% gain, they're now on pace for their highest close since August. However, this doesn't offer much solace to long-term shareholders. 

Specifically, CAPR has lost over half its value since hitting an annual high of $10.68 in March 2015. And things don't get any better if you expand the timeline, as the stock flirted with $50 in mid-2011. In other words, while CAPR has made a valiant rebound effort in 2016, it remains a long-term laggard.

Short sellers would like to see the shares resume this lackluster technical performance. Short sellers control more than eight days' worth of buying power on CAPR, based on its typical trading levels -- with short interest jumping over 7% in the last reporting period alone.

If these bears have any luck, Capricor Therapeutics Inc (NASDAQ:CAPR) stock could soon let off some steam, after its recent burst. At Wednesday's close, CAPR's 14-day Relative Strength Index (RSI) arrived at 68 -- just short of overbought territory. 

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