Shares of Cara Therapeutics Inc (NASDAQ:CARA) were up 0% during trading on Wednesday . The company traded as high as $13.90 and last traded at $13.52. Approximately 1,947,966 shares changed hands during trading, an increase of 31% from the average daily volume of 1,486,983 shares. The stock had previously closed at $13.52.
A number of research firms have weighed in on CARA. Scotiabank lifted their price objective on Cara Therapeutics from $31.00 to $31.50 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. ValuEngine lowered Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. BidaskClub upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Raymond James Financial lifted their price objective on Cara Therapeutics from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, November 7th. Finally, Zacks Investment Research lowered Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, five have given 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 a consensus target price of $24.97.
The stock has a market cap of $410.54, a P/E ratio of -5.63 and a beta of 2.96.
In other Cara Therapeutics news, CEO Derek T. Chalmers sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $12.66, for a total transaction of $202,560.00. Following the completion of the sale, the chief executive officer now directly owns 1,066,292 shares in the company, valued at approximately $13,499,256.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.70% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of CARA. State Street Corp boosted its holdings in shares of Cara Therapeutics by 686.2% during the 2nd quarter. State Street Corp now owns 3,245,043 shares of the biopharmaceutical company’s stock worth $49,943,000 after purchasing an additional 2,832,304 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Cara Therapeutics by 376.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 525,000 shares of the biopharmaceutical company’s stock worth $8,080,000 after purchasing an additional 715,000 shares during the last quarter. FMR LLC boosted its holdings in shares of Cara Therapeutics by 27.7% during the 2nd quarter. FMR LLC now owns 1,198,812 shares of the biopharmaceutical company’s stock worth $18,450,000 after purchasing an additional 260,036 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cara Therapeutics by 17.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,107,874 shares of the biopharmaceutical company’s stock worth $17,050,000 after purchasing an additional 164,247 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in Cara Therapeutics in the second quarter valued at approximately $2,186,000. Institutional investors and hedge funds own 58.64% of the company’s stock.
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Cara Therapeutics Company Profile
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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