Cara Therapeutics, Inc. (NASDAQ:CARA) Director Dean Slagel sold 250,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $25.87, for a total value of $6,467,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Cara Therapeutics, Inc. (CARA) traded up 0.72% on Friday, hitting $14.04. The company had a trading volume of 900,908 shares. Cara Therapeutics, Inc. has a 12-month low of $5.07 and a 12-month high of $28.50. The firm’s 50 day moving average price is $17.10 and its 200 day moving average price is $16.23. The stock’s market cap is $456.40 million.
Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.08. The firm had revenue of $0.91 million during the quarter, compared to the consensus estimate of $0.11 million. The business’s revenue was up 12900.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Equities analysts predict that Cara Therapeutics, Inc. will post ($2.44) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. RHO Capital Partners Inc. increased its stake in shares of Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock valued at $65,617,000 after buying an additional 500,000 shares in the last quarter. Vanguard Group Inc. increased its stake in Cara Therapeutics by 20.0% in the first quarter. Vanguard Group Inc. now owns 943,627 shares of the biopharmaceutical company’s stock worth $17,353,000 after buying an additional 156,958 shares during the period. FMR LLC increased its stake in Cara Therapeutics by 931.6% in the first quarter. FMR LLC now owns 938,776 shares of the biopharmaceutical company’s stock worth $17,264,000 after buying an additional 847,777 shares during the period. Chescapmanager LLC increased its stake in Cara Therapeutics by 30.4% in the first quarter. Chescapmanager LLC now owns 893,390 shares of the biopharmaceutical company’s stock worth $16,429,000 after buying an additional 208,223 shares during the period. Finally, State Street Corp increased its stake in Cara Therapeutics by 7.1% in the fourth quarter. State Street Corp now owns 348,531 shares of the biopharmaceutical company’s stock worth $3,244,000 after buying an additional 23,222 shares during the period. 53.01% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on CARA shares. Vetr raised Cara Therapeutics from a “hold” rating to a “buy” rating and set a $18.44 target price for the company in a research report on Wednesday, April 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 target price (down previously from $24.00) on shares of Cara Therapeutics in a research report on Friday, June 30th. Laidlaw decreased their target price on Cara Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, June 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cara Therapeutics in a research report on Wednesday, May 17th. Finally, Janney Montgomery Scott downgraded Cara Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $21.00 in a research report on Friday, June 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Cara Therapeutics currently has a consensus rating of “Buy” and an average price target of $25.68.
About Cara Therapeutics
Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.
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