Cara Therapeutics (NASDAQ:CARA) Trading 10% Higher

Cara Therapeutics, Inc. (NASDAQ:CARA – Get Rating)’s stock price shot up 10% on Thursday . The company traded as high as $10.24 and last traded at $10.23. 32,428 shares changed hands during trading, a decline of 92% from the average session volume of 427,257 shares. The stock had previously closed at $9.30.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.80.

Cara Therapeutics Price Performance

The business has a 50-day moving average price of $8.99 and a two-hundred day moving average price of $10.25. The firm has a market cap of $603.96 million, a PE ratio of -6.33 and a beta of 1.02.

Cara Therapeutics (NASDAQ:CARA – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. The business had revenue of $4.79 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same period last year, the business earned ($0.47) earnings per share. Equities analysts expect that Cara Therapeutics, Inc. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Cara Therapeutics

In related news, Director Jeffrey L. Ives sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $32,580.00. Following the sale, the director now owns 15,476 shares in the company, valued at $140,057.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farallon Capital Management LLC boosted its holdings in Cara Therapeutics by 25.0% in the first quarter. Farallon Capital Management LLC now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $30,375,000 after purchasing an additional 500,000 shares during the last quarter. Soleus Capital Management L.P. acquired a new stake in Cara Therapeutics in the fourth quarter valued at $5,203,000. Renaissance Technologies LLC bought a new stake in shares of Cara Therapeutics in the 4th quarter worth about $4,396,000. Point72 Asset Management L.P. acquired a new position in Cara Therapeutics in the fourth quarter worth about $4,364,000. Finally, Pinnacle Associates Ltd. raised its stake in Cara Therapeutics by 93.5% during the first quarter. Pinnacle Associates Ltd. now owns 740,106 shares of the biopharmaceutical company’s stock valued at $8,992,000 after buying an additional 357,628 shares in the last quarter. Institutional investors and hedge funds own 56.56% of the company’s stock.

Cara Therapeutics Company Profile

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Cara Therapeutics, Inc, an early commercial-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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.