BlackRock Inc. raised its stake in shares of Cara Therapeutics (NASDAQ:CARA) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,207,407 shares of the biopharmaceutical company’s stock after acquiring an additional 449,334 shares during the period. BlackRock Inc. owned approximately 0.07% of Cara Therapeutics worth $27,018,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Cara Therapeutics by 30.3% during the third quarter. JPMorgan Chase & Co. now owns 359,875 shares of the biopharmaceutical company’s stock valued at $4,790,000 after acquiring an additional 83,725 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Cara Therapeutics by 16.7% during the third quarter. California Public Employees Retirement System now owns 166,273 shares of the biopharmaceutical company’s stock valued at $2,276,000 after acquiring an additional 23,773 shares during the last quarter. Cetera Advisor Networks LLC acquired a new stake in shares of Cara Therapeutics during the fourth quarter valued at about $125,000. SG Americas Securities LLC acquired a new stake in shares of Cara Therapeutics during the third quarter valued at about $347,000. Finally, First Manhattan Co. acquired a new stake in shares of Cara Therapeutics during the fourth quarter valued at about $1,248,000. Institutional investors and hedge funds own 52.76% of the company’s stock.
In related news, SVP Frederique Ph.D. Menzaghi sold 15,000 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the transaction, the senior vice president now owns 122,000 shares in the company, valued at $1,830,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Derek T. Chalmers sold 12,500 shares of Cara Therapeutics stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the completion of the transaction, the chief executive officer now owns 1,073,792 shares of the company’s stock, valued at approximately $16,106,880. The disclosure for this sale can be found here. In the last three months, insiders sold 35,900 shares of company stock valued at $538,560. Insiders own 7.70% of the company’s stock.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Thursday, March 15th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04). During the same quarter last year, the firm earned ($0.81) EPS. sell-side analysts expect that Cara Therapeutics will post -1.96 EPS for the current year.
A number of equities research analysts have weighed in on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Cara Therapeutics in a research report on Friday, March 16th. Stifel Nicolaus reiterated a “buy” rating and set a $17.00 price target on shares of Cara Therapeutics in a research report on Wednesday, January 3rd. Zacks Investment Research cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. HC Wainwright set a $22.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, BidaskClub cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cara Therapeutics currently has an average rating of “Buy” and an average target price of $24.59.
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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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