Raymond James & Associates Invests $250,000 in Cara Therapeutics Inc (CARA) Stock

Raymond James & Associates purchased a new stake in Cara Therapeutics Inc (NASDAQ:CARA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,069 shares of the biopharmaceutical company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Cara Therapeutics by 3.7% in the second quarter. BlackRock Inc. now owns 2,241,248 shares of the biopharmaceutical company’s stock valued at $42,920,000 after buying an additional 80,842 shares in the last quarter. Chescapmanager LLC lifted its stake in Cara Therapeutics by 10.6% in the second quarter. Chescapmanager LLC now owns 1,164,431 shares of the biopharmaceutical company’s stock valued at $22,299,000 after buying an additional 111,498 shares in the last quarter. First Manhattan Co. lifted its stake in Cara Therapeutics by 205.9% in the second quarter. First Manhattan Co. now owns 557,000 shares of the biopharmaceutical company’s stock valued at $10,666,000 after buying an additional 374,900 shares in the last quarter. C WorldWide Group Holding A S lifted its stake in Cara Therapeutics by 25.1% in the second quarter. C WorldWide Group Holding A S now owns 289,950 shares of the biopharmaceutical company’s stock valued at $5,553,000 after buying an additional 58,175 shares in the last quarter. Finally, UBS Group AG lifted its stake in Cara Therapeutics by 359.1% in the first quarter. UBS Group AG now owns 178,260 shares of the biopharmaceutical company’s stock valued at $2,207,000 after buying an additional 139,436 shares in the last quarter. 48.82% of the stock is currently owned by hedge funds and other institutional investors.

CARA has been the topic of a number of research reports. Zacks Investment Research lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. BidaskClub lowered shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. HC Wainwright set a $26.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 8th. Stifel Nicolaus lifted their price objective on shares of Cara Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Canaccord Genuity lifted their price objective on shares of Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.83.



In related news, CFO Mani Mohindru sold 16,042 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $20.19, for a total transaction of $323,887.98. Following the transaction, the chief financial officer now directly owns 16,042 shares in the company, valued at $323,887.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Derek T. Chalmers sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $19.71, for a total transaction of $394,200.00. Following the transaction, the chief executive officer now owns 1,031,392 shares in the company, valued at $20,328,736.32. The disclosure for this sale can be found here. Insiders sold 76,484 shares of company stock worth $1,612,285 over the last quarter. 6.70% of the stock is owned by corporate insiders.

NASDAQ CARA opened at $18.74 on Thursday. Cara Therapeutics Inc has a 12-month low of $11.11 and a 12-month high of $24.30. The company has a market capitalization of $733.55 million, a PE ratio of -10.08 and a beta of 2.88.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.02). The firm had revenue of $2.87 million for the quarter, compared to the consensus estimate of $0.63 million. Sell-side analysts predict that Cara Therapeutics Inc will post -2.01 EPS for the current fiscal year.

About Cara Therapeutics

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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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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