Cara Therapeutics, Inc. (NASDAQ:CARA) Director Sells $6,467,500.00 in Stock

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.

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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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