Vanguard Group Inc. lifted its holdings in Cara Therapeutics Inc (NASDAQ:CARA) by 24.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,551,344 shares of the biopharmaceutical company’s stock after purchasing an additional 305,020 shares during the period. Vanguard Group Inc. owned about 3.95% of Cara Therapeutics worth $37,155,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CARA. Morgan Stanley lifted its holdings in Cara Therapeutics by 6.3% during the third quarter. Morgan Stanley now owns 81,338 shares of the biopharmaceutical company’s stock valued at $1,948,000 after purchasing an additional 4,840 shares in the last quarter. B. Riley Wealth Management Inc. purchased a new position in Cara Therapeutics during the third quarter valued at $882,000. TIAA CREF Investment Management LLC lifted its holdings in Cara Therapeutics by 19.2% during the third quarter. TIAA CREF Investment Management LLC now owns 70,240 shares of the biopharmaceutical company’s stock valued at $1,682,000 after purchasing an additional 11,312 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Cara Therapeutics by 15.4% during the third quarter. Teachers Advisors LLC now owns 63,265 shares of the biopharmaceutical company’s stock valued at $1,515,000 after purchasing an additional 8,461 shares in the last quarter. Finally, Nexthera Capital LP lifted its holdings in Cara Therapeutics by 69.2% during the third quarter. Nexthera Capital LP now owns 737,303 shares of the biopharmaceutical company’s stock valued at $17,658,000 after purchasing an additional 301,503 shares in the last quarter. 62.16% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CARA traded up $0.01 during midday trading on Tuesday, hitting $16.38. The company’s stock had a trading volume of 3,837 shares, compared to its average volume of 639,580. The company has a market cap of $660.08 million, a P/E ratio of -8.94 and a beta of 2.87. Cara Therapeutics Inc has a 12-month low of $11.46 and a 12-month high of $24.30.
Several equities analysts have issued reports on the stock. Cantor Fitzgerald set a $27.00 price objective on shares of Cara Therapeutics and gave the company a “buy” rating in a report on Wednesday, November 7th. Zacks Investment Research downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 9th. BidaskClub downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Jefferies Financial Group assumed coverage on shares of Cara Therapeutics in a report on Wednesday, February 6th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Bank of America assumed coverage on shares of Cara Therapeutics in a report on Tuesday, January 15th. They set a “neutral” rating and a $19.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $24.03.
In other news, CEO Derek T. Chalmers sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $14.99, for a total value of $299,800.00. Following the transaction, the chief executive officer now directly owns 953,788 shares of the company’s stock, valued at $14,297,282.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Terrillion sold 3,100 shares of the firm’s stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $12.51, for a total transaction of $38,781.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,492 shares of company stock worth $1,563,622. Insiders own 6.70% of the company’s stock.
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About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body’s peripheral nervous system and immune cells.
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