Vanguard Group Inc. increased its position in Cara Therapeutics Inc (NASDAQ:CARA) by 24.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,551,344 shares of the biopharmaceutical company’s stock after buying an additional 305,020 shares during the period. Vanguard Group Inc. owned 3.95% of Cara Therapeutics worth $37,155,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CARA. Pacer Advisors Inc. acquired a new position in Cara Therapeutics during the third quarter worth $138,000. Creative Planning acquired a new position in Cara Therapeutics during the third quarter worth $207,000. HAP Trading LLC raised its stake in Cara Therapeutics by 207.5% during the third quarter. HAP Trading LLC now owns 10,753 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 20,753 shares in the last quarter. Virtu Financial LLC acquired a new position in Cara Therapeutics during the third quarter worth $259,000. Finally, Raymond James & Associates acquired a new position in Cara Therapeutics during the second quarter worth $250,000. 62.16% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CARA traded up $0.08 during trading on Tuesday, hitting $17.13. 169,855 shares of the company’s stock traded hands, compared to its average volume of 624,717. Cara Therapeutics Inc has a 52 week low of $11.46 and a 52 week high of $24.30. The stock has a market capitalization of $669.89 million, a PE ratio of -9.21 and a beta of 2.87.
Several research analysts have issued reports on the company. Janney Montgomery Scott assumed coverage on Cara Therapeutics in a research note on Thursday, December 20th. They set a “buy” rating and a $13.36 price objective for the company. Zacks Investment Research lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. HC Wainwright set a $30.00 target price on Cara Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 20th. Bank of America assumed coverage on Cara Therapeutics in a research note on Tuesday, January 15th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, BidaskClub lowered Cara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.03.
In other Cara Therapeutics news, CEO Derek T. Chalmers sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $14.99, for a total transaction of $299,800.00. Following the transaction, the chief executive officer now owns 953,788 shares of the company’s stock, valued at approximately $14,297,282.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mani Mohindru sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $12.55, for a total value of $56,475.00. The disclosure for this sale can be found here. In the last three months, insiders sold 95,450 shares of company stock worth $1,266,845. 6.70% of the stock is owned by insiders.
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Cara Therapeutics Profile
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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