GreedyAgorist
4 days ago
Looks like you nearly nailed that floor price.
So, the first reaction to the quarterly numbers makes sense: down on still no P/E ratio (i.e., negative earnings). And then a bounce, presumably thanks to bargain hunters who think that if 20 is a bargain, then 17 is a steal.
We seem to be settling in price-wise. It's not just FOMO* up like last month, although we can, with some regularity, still get 10-15% swings either way to keep it interesting. For options traders like me, who, before the FDA/BLA news, have been buying under 5 and selling covered calls (mostly at 5, with the occasional 7.5 thrown in there) the only question is: What is the new 5? 20 or 17.50?
*with a little BTFD mixed in
Mionaer1
4 weeks ago
Piper Sandler PT $35
Piper Sandler analyst Edward Tenthoff initiates coverage on Capricor Therapeutics (NASDAQ: $CAPR) with an Overweight rating and a price target of $35.00.
The analyst comments: "Capricor is developing deramiocel (CAP-1002) to treat cardiomyopathy in Duchenne Muscular Dystrophy (DMD) boys. In the Phase II HOPE-2 trial (N=20), deramiocel slowed LVEF decline by 107% vs. placebo at 12 months. (p=0.002) At World Muscle Society, HOPE-2 OLE data showed deramiocel achieved an 8.1 point improvement in median LVEF and 11.0ml/m2 benefit in median End Systolic Volume vs. external controls at 2 years with benefit maintained out to 3 years. Capricor has begun the rolling BLA submission, and deramiocel could gain FDA approval for DMD cardiomyopathy in 2H:25. Deramiocel is partnered globally with Nippon Shinyaku with Capricor retaining 30-50% of potential blockbuster revenues, plus up to $1.5 billion in milestones. Capricor recently issued 5.1 million shares at $17 raising gross proceeds of $86 million, bringing pro forma cash to ~ $198 million excluding 3Q:24 burn."
GreedyAgorist
1 month ago
Day trading this one would have been fun. Actually, since there are only monthly options available on Capricor, I just sold a few more contracts expiring next week. I hardly ever buy options any more, although I did get into and out of a couple contracts expiring today on another ticker. Used the profit to cover the cost of a protective put here on this one. That should calm the nerves a bit next week as the expiration clock starts ticking louder. Not rooting for a down Monday, but if it comes, I will be ready.
Note to self: buy low, sell high.
GreedyAgorist
1 month ago
Fun day: up 18% first thing in AM, then down 17%, only to recover 5%. If you only looked at the modest 3.8% green at the end of the day, you might have no clue as to the action. Unless, of course, you've been here for more than a few days.
; - )
Must remember to keep powder dry and trigger finger limber for another one like that.
GreedyAgorist
1 month ago
So, it sounds like the answer is No. Neither of us has enough shares.
: - )
Well, I am definitely at least half right.
As for hitting that magical big round number target that people still dream about (even though inflation has destroyed the value, so it's just a number)... heck, I just need this quarter to be as good as last quarter, and I will be in good shape. It won't be as easy, as I don't think I have another quadruple like CAPR in my portfolio.
Looks like I just closed my October 20 call position at 2 bucks a contract. I know it is tempting to hold out for more when the thing is running, to wait and see where it ends up, but I opened that play a few days ago. My rule is: if immediately proved right, take profits; no need to wait until expiration. Besides, I also had October 15's. By cutting that position in half, I can let the rest (all house money) run. Well above the option strike price now. I will sell more cash covered puts if and when it dips.