Cara Therapeutics Inc (NASDAQ:CARA)’s share price traded down 6.8% during mid-day trading on Friday . The company traded as low as $18.27 and last traded at $18.30. 568,730 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 667,226 shares. The stock had previously closed at $19.64.
A number of equities analysts recently issued reports on the company. BidaskClub raised Cara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 12th. Janney Montgomery Scott assumed coverage on Cara Therapeutics in a report on Thursday, December 20th. They issued a “buy” rating and a $13.36 price target for the company. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, January 21st. HC Wainwright set a $30.00 price objective on Cara Therapeutics and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Bank of America initiated coverage on Cara Therapeutics in a report on Tuesday, January 15th. They issued a “neutral” rating and a $19.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Cara Therapeutics presently has an average rating of “Buy” and an average price target of $24.03.
The firm has a market capitalization of $723.73 million, a price-to-earnings ratio of -8.88 and a beta of 2.68.
In related news, SVP Frederique Ph.D. Menzaghi sold 1,500 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $17.50, for a total transaction of $26,250.00. Following the completion of the sale, the senior vice president now directly owns 142,779 shares of the company’s stock, valued at $2,498,632.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Derek T. Chalmers sold 15,825 shares of the stock in a transaction on Friday, December 28th. The stock was sold at an average price of $12.53, for a total value of $198,287.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,983 shares of company stock valued at $2,178,154. Corporate insiders own 6.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Avondale Wealth Management lifted its holdings in shares of Cara Therapeutics by 50.0% during the fourth quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cara Therapeutics by 36.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 964 shares in the last quarter. Captrust Financial Advisors raised its position in Cara Therapeutics by 40.0% in the fourth quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 1,400 shares in the last quarter. Advisory Services Network LLC raised its position in Cara Therapeutics by 39,086.4% in the fourth quarter. Advisory Services Network LLC now owns 8,621 shares of the biopharmaceutical company’s stock worth $112,000 after acquiring an additional 8,599 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in Cara Therapeutics in the fourth quarter worth $121,000. 61.72% of the stock is owned by hedge funds and other institutional investors.
Cara Therapeutics Company Profile (NASDAQ:CARA)
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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